BEIJING: Electric auto emblem Tesla Inc. says it has secured land in Shanghai for its first manufacturing facility out of doors the United States, pushing ahead regardless of mounting US-Chinese industry tensions.
Tesla said Wednesday it signed a "land switch settlement'' on a 210-acre (84-hectare) web page for the manufacturing facility. It announced the plan for a China manufacturing facility in July after the Chinese government said it will end restrictions on full overseas ownership of electrical automobile manufacturers.
Those plans have long past ahead regardless of US-Chinese tensions over Beijing's technology coverage. Washington imposed penalty tariffs on Chinese goods and Beijing retaliated through elevating duties on imports of American merchandise together with electrical cars.
China is the biggest world electrical automobile marketplace and Tesla's second-largest after the United States.
Tesla said Wednesday it signed a "land switch settlement'' on a 210-acre (84-hectare) web page for the manufacturing facility. It announced the plan for a China manufacturing facility in July after the Chinese government said it will end restrictions on full overseas ownership of electrical automobile manufacturers.
Those plans have long past ahead regardless of US-Chinese tensions over Beijing's technology coverage. Washington imposed penalty tariffs on Chinese goods and Beijing retaliated through elevating duties on imports of American merchandise together with electrical cars.
China is the biggest world electrical automobile marketplace and Tesla's second-largest after the United States.
Tesla secures land for Shanghai factory, first outside US
![Tesla secures land for Shanghai factory, first outside US]()
Reviewed by Kailash
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October 17, 2018
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