November 5, 2024 3:43 PM | 2 min read Tesla had made the announcement via social media platform X. "Giga Shanghai achieves 3 million production milestone," the company wrote with an adjoining image of the employees at the gigafactory in China celebrating the milestone with a red Tesla car in their midst. Tesla China's Gigafactory Shanghai is the EV giant's largest by production volume, with an estimated annual output exceeding 950,000 vehicles, according to the third quarter 2024 Update Letter, Teslarati added. Giga Shanghai manufactures the Model 3 and Model Y for both the domestic Chinese market and international markets. Meanwhile, Tesla has reportedly raised wages for all its employees at its gigafactory in Berlin. Reuters reported that the wage hike has been in effect since the start of November. The factory in Berlin employs nearly 12,000 staff. The Berlin factory is Tesla's only in Europe. Its current installed annual vehicle capacity is over 375,000 Model Ys. Price Action: TSLA shares are trading higher by 4.39% to $253.13 at the last check on Tuesday. Read Next: