China Opens Door to Tesla Motors

2018 Tesla Model 32018 Tesla Model 3. (AP Photo/David Zalubowski)

Tesla, Inc., the U.S.-based motorcar company, has entered into an agreement with Chinese authorities to establish a factory producing electric cars and car batteries
in Shanghai.

 

Tesla global sales manager Robin Ren gave information of Tesla’s pending China venture during the company’s annual general meeting held Tuesday, June 5th, in California, USA, saying; “We’re very excited to build the first battery factory outside of the U.S. in China.”

The Chinese ‘Giga-factory’ will be Tesla’s first facility outside of the United States.

Tesla’s Ren added that talks with Chinese representatives have gone very well and that further details of the Tesla Shanghai plant will be announced “soon”, while also stating that “The cars we’ll be building in that factory will be incredible.”

Tesla CEO Elon Musk seemed to surprise Ren when he asked him to discuss the Chinese venture during Tuesday’s open-mike interview session.

Musk has emphasized the need to have factories located upon different continents to help reduce the price of its vehicles. He states that he sees a future with Tesla operating 10 to 12 giga-factories around the world.

Beyond China, Musk also hopes to find a suitable site for a European giga-factory by the end of 2018, stating that “Europe maybe by the end of the year; we just need to figure out where to put it.”

Tesla’s currently manufactures product within the United States; with batteries made within Nevada and the assembly of cars taking place within California.

Tesla, Inc. is based in California, USA and was started in 2003 by Martin Eberhard & Elon Musk (who co-founded PayPal and is also CEO of SpaceX).

Tesla, Inc. began sales of its first car, the Tesla Roadster, in 2008.

At post, Tesla, Inc. Common Stock (TSLA) @ $319.50 USD, up 9.74%.

 

© NTB scanpix / #Norway Today

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