Shanghai May Be Home to Tesla’s China Factory

By Jon LeSage Tesla Motors may be setting up a manufacturing plant in Shanghai to serve the China market.
An unnamed source has told Bloomberg that Jinqiao Group, a Shanghai government-owned company, has signed a non-binding memorandum of understanding with Tesla that will lead to a $9 billion factory investment in the area. Tesla and Jinqiao Group will form an enterprise where each entity owns a 50% share. Tesla is expected to pay cash while Jinqiao Group will put up the other half, mostly in the form of real estate.
Manufacturing its electric cars in China would allow Tesla to circumvent the country’s 25% import

Read Full Article Here

For more great articles:

(Visited 9 times, 1 visits today)



© 2014 RenewaNews