Tags: AS | China | Tesla

Tesla Secures Land for Shanghai Factory, First outside US

Wednesday, 17 October 2018 05:38 AM

BEIJING (AP) — Electric auto brand Tesla Inc. says it has secured land in Shanghai for its first factory outside the United States, pushing ahead despite mounting U.S.-Chinese trade tensions.

Tesla said Wednesday it signed a "land transfer agreement" on a 210-acre (84-hectare) site for the factory. It announced the plan for a China factory in July after the Chinese government said it would end restrictions on full foreign ownership of electric vehicle manufacturers.

Those plans have gone ahead despite U.S.-Chinese tensions over Beijing's technology policy. Washington imposed penalty tariffs on Chinese goods and Beijing retaliated by raising duties on imports of American products including electric cars.

China is the biggest global electric vehicle market and Tesla's second-largest after the United States.

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Electric auto brand Tesla Inc. says it has secured land in Shanghai for its first factory outside the United States, pushing ahead despite mounting U.S.-Chinese trade tensions.Tesla said Wednesday it signed a "land transfer agreement" on a 210-acre (84-hectare) site for the...
AS,China,Tesla
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2018-38-17
Wednesday, 17 October 2018 05:38 AM
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