Monday, October 23, 2017

Tesla Will Open an Electric Vehicle Plant in China

I thought the appeal of a Tesla was that it is made in the US. Guess not.

Electric-car maker Tesla Inc. has reached an agreement to set up its own manufacturing facility in Shanghai, according to people briefed on the plan, a move that could help the company gain traction in China’s fast-growing EV market. The deal with Shanghai’s government will allow the Silicon Valley auto maker to build a wholly owned factory in the city’s free-trade zone, these people said.