Tesla to open plant in Shanghai - Global News Information | News Distribution Worldwide

Tesla to open plant in Shanghai

tesla-REU

Tesla has been in protracted negotiations to open its own factory in China. On Tuesday signed agreements with Shanghai Authorities that will allow it to open a plant in the Chinese city with an annual capacity of 5,00,000 cars, local media reported.

The US carmaker signed an agreement with Shanghai Municipal Government, Shangai  Lingang Area Development Administration, and  Lingang Group, according to news website knew, which is affiliated with state-owned Shanghai Media Group.

Tesla has been in protected negotiation to open its own factory in China to help bolster its position in the country’s fast-growing market for electric cars and to avoid high import traffics.