4 days agoTesla starts building a factory in Shanghai
Periskopi(7 years ago)
(7 years ago)Tesla, a U.S.-based car manufacturer, is due to begin building a factory in Shanghai today to sell vehicles for Chinese customers and to avoid customs duties imposed by the US-Kina-led trade war. The plan to build a factory in China was announced in July, with a capacity [...]
The plan for construction of a factory in China was announced in July, with an annual production capacity of 500,000 vehicles, which will significantly increase production volume so far and allow more direct access to the world's largest electricity market.
The factory in Shanghai will be Tesla's first production line outside the United States.
We look forward to today's initial construction of Tesla Shanghai”, said Elon Musk, chief of Tesla, in an official Twitter account.
Our goal is to complete the initial phase of construction works this summer, start Model 3 at the end of the year and achieve a large volume of production in the coming year,” he added.
Chinese media report that Musk will appear in Shanghai at the opening of the factory, which Bloomberg News estimates could cost five billion dollars, Kosovo Press broadcasts.
A Tesla spokeswoman told the AFP that it was not authorised to confirm Musk's visit, nor other details before the end of today's ceremony.
The Tesla investment in Shanghai coincided with mounting pressure from US President Donald Trump for local companies to hold US jobs and the trade struggle between Beijing and Washington, which, according to customs, includes the exchange of hundreds of billions of dollars.
China usually requires the creation of joint enterprises with local companies, including income sharing and technology. From Tesla announced that the factory in Shanghai will be fully owned by the company.
