Tesla Inc is close to an agreement to produce its electric cars in China for the first time and gain better access to the world’s largest auto market,Bloomberg reported, citing people familiar with the matter.
An agreement with the city of Shanghai would allow Tesla to build its facilities in Lingang development zone and could come as soon as this week, the report said.
The electric carmaker, whose revenue from China tripled to more than $1 billion last year, would need to set up a joint venture with at least one local partner under existing rules,Bloomberg reported. Read More…
Credit By : ET Energy World
Latest posts by ET Energy World (see all)
- India Will Soon Be Global Leader In Promoting Electric Vehicles: Piyush Goyal – August 14, 2017
- SAIL First Quarter Net Loss Widens To Rs 801 Crore On Higher Coal Prices – August 12, 2017
- Flouting Norms Led To Higher Bad Loans Of REC, PFC: CAG Report – August 11, 2017