Tesla Moves Toward Opening Manufacturing Facility in China
May 14th, 2018Gigafactory 2 announcement soon?
Via: Reuters:
Tesla Inc has registered a new electric car firm in Shanghai, as China prepares to scrap rules on capping foreign ownership of new-energy vehicle (NEV) ventures.
The new company, Tesla (Shanghai) Co Ltd, was registered on May 10, according to a filing with the National Enterprise Credit Information Publicity System seen by Reuters.
The new company will focus on electric cars, spare parts and batteries, according to the filing.
The U.S. carmaker has been in protracted negotiations to set up its own plant in Shanghai to produce vehicles locally, helping bolster its position in the country’s fast-growing market for electric cars and to avoid high import tariffs.
Smart move.