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Tesla to build first overseas plant in China

9 3 11

LUXURY electronic vehicle manufacturer Tesla on Tuesday signed a memorandum of understanding with the local government in Shanghai to build a wholly-owned factory in the city.

It will be Tesla’s first manufacturing plant – which are known as Gigafactories – outside of the United States, and will produce 500,000 electric cars annually for the Chinese market.

Shanghai’s government said the venture will be the largest foreign-invested manufacturing project in the city’s history, reported China’s state news agency Xinhua. The factory will also house an electric vehicle R&D centre and is expected to be built within two........

© Asian Correspondent