(Yicai Global) Sept. 7 -- The expansion project of Tesla's first overseas factory is on schedule to start churning out Model Ys next year, according to Chinese news outlet the Paper.

The main structure of the Gigafactory in Shanghai's Lingang Special Area of the China Shanghai Pilot Free Trade Zone is completed, the news source reported today. Construction started in February.

Equipment is being installed and tested while the whole project should be finished on time by October or November. After that, the second made-in-China model should enter mass production in the first quarter of 2021.

The first part of the plant was completed in just one year late last year. Since then, the California-headquartered company has been producing its Model 3s there for its largest overseas market.

On Aug. 24, Tesla updated its website to include two China-made Model Ys for pre-order. The Long Range version is priced at CNY488,000 (USD71,459) and the Performance version costs CNY535,000.

The company is hiring. Tesla is looking to recruit nearly 1,000 workers for the Model Y production line, according to its recent notice.

Editor: Emmi Laine