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Tesla is laying the groundwork to build cars in Shanghai

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Tesla is laying the groundwork to build cars in Shanghai


It’s a move that the company has been planning for a long time. Musk mentioned building a factory in China as far back as October of 2015, outlining the plan as a way to significantly reduce costs for Chinese buyers. According to Bloomberg, the company has already signed a deal with the city to build facilities in the Lingang development area — but it would need to cut a deal with a local company before it could begin. As a foreign company, Telsa would only be allowed to own 50-percent of any joint venture built in China.

Tesla hasn’t hinted at who it might partner with, or when it could start producing vehicles in China — but it seems like a smart and inevitable move for the company. According to Musk, a local factory could cut costs to consumers by as much as a third. That would be a big deal for Chinese customers.



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