Tesla reaches deal to build factory in China

Tesla reaches deal to build factory in China

Tesla reaches deal to build factory in China

An agreement has been reached between Tesla and the Chinese government towards the construction of a production complex located in the free-trade zone that is the city of Shanghai. The electric-car maker led by Elon Musk said at the time that it planned to define its plans more clearly by the end of the year.

According to commentators, China levied a 25-per cent duty on sales of imported vehicles and has not allowed foreign automakers to establish wholly owned factories in the country, the world's largest auto market.

Though Jason was in the only Tesla charging at the time the photos were taken, he tells Teslarati that the area is known for long charging queues and that he "can't wait to charge with 49 other Tesla owners".

Reports have surfaced that Tesla has struck a deal to build a factory in Shanghai's free trade zone. Nevertheless, local production will help to slash costs of Tesla models sold throughout China.

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If the deal indeed pushes through, then Tesla will retain its independence and technologies while potentially gaining a prominent position in China.

China is poised to become the world's largest electric vehicle market and the government has a positive attitude for the same. One of the options available is signing a joint venture, which means sharing their technology as well as profits with a partner in China.

"We continue to evaluate potential manufacturing sites around the globe to serve the local markets". Instead, Tesla will own the entire factory. "While we expect most of our production to remain in the U.S., we do need to establish local factories to ensure affordability for the markets they serve", it said. According to a study published by the China Association of Automobile Manufacturers this week, Chinese buyers are expected to have purchased 700,000 electric vehicles by the year's end.

Tesla declined Sunday to comment about the report. Early this month, they may have admitted that their production schedule for the new Model 3 mass-market sedan was woefully short of the necessary quota. These zones have been established to encourage more production of electric and hybrid vehicles - which the government calls "new energy vehicles" - to meet ambitious sales quotas.

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