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Report: Tesla to Build Factory in China

Tesla is gearing up to launch its own manufacturing plant in Shanghai, reports The Wall Street Journal. According to people briefed on the plan, who remain unnamed in the story, the automaker has entered into an agreement with the local government to build a factory in Shanghai’s free-trade zone.

WSJ calls the deal “the first of its kind for a foreign auto maker.” Unlike other carmakers that partner with local manufacturers to build cars in China, Tesla will have its very own factory. It’s likely Tesla will be subjected to China’s 25-percent import tariff, although producing cars in Shanghai is key to helping the automaker reduce production costs as it serves the Chinese market.

As The Verge points out, China is eager to accelerate the adoption of EVs on its roads. In fact, it recently confirmed it wanted to eventually stop selling gas and diesel cars, much like France and Britain.

In truth, the information comes as little wonder. Earlier this year, Tesla admitted it was operating with the Shanghai authorities on an settlement to build a plant. At the time, Tesla said that most of its manufacturing might continue to be within the U.S., but.

Last 12 months, extra than 15 percent of Tesla?S general sales got here from the arena?S biggest vehicle marketplace. The agency?S revenue tripled to $1 billion in China, that may sooner or later grow to be the business enterprise?S biggest marketplace.

Source: The Wall Street Journal (Subscription required), The Verge, Bloomberg

The post Report: Tesla to Build Factory in China appeared first on Motor Trend.

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