Tesla unveils Shanghai factory plans amid US-China trade row

16 July, 2018, 00:32 | Author: Darnell Patrick
  • Илон Маск рассказал что в Норвегии зря обижаются на Tesla

The other is which manufacturer Musk will pick to supply the cells that Tesla turns into battery packs.

Analysts estimate that China takes up 16 percent of the total number of deliveries Tesla made in 2017, behind only USA who dominates at 48.6 percent. "We hope it will be completed very soon". What was once a "wild card", China is now the most important market after the United States.

However, under changes to subsidies for electric cars introduced a year ago, the support is gradually phased out after a company has sold 200,000 vehicles.

The Shanghai government said it would give full support to the construction of the plant and improve the business environment for foreign-owned enterprises.

Tesla said they are looking forward to working and building more cars for their Chinese customers.


Anticipation about a potential big Tesla investment had bubbled over the past year. Investors - those who are long and short Tesla (Nasdaq: TSLA) alike - are eager to know, as the company only had about $3 billion cash on hand through the first quarter of the year. The government was planning to bring that down, but instead raised it to 40 percent for US built vehicles in retaliation to the Trump administrations tariffs that went into effect last week.

"To the best of my judgment, I do not think we have any future bet-the-company situations". Those tariffs raised the price on Tesla Model S to USD142,000 from about USD115,000, according to 24-7 Wall Street.

"NPRA said the current rules, which Tesla Norway could obtain permission to work in mobile vans, the company has the first of June". And its announcement said nothing about how it will pay for the venture.

When Nikkei Asian Review reached out to Panasonic, Tesla's battery partner at its Nevada Gigafactory, the company said, "We have not received any specific production requests". Musk said at the time the job cuts would not affect an ambitious build-out program of its Model 3 sedan that has been closely monitored by Wall Street.

"If foreign automakers develop and build electric vehicles in the country, its domestic industry has the chance to absorb new, advanced technologies, helping China transform from a mere market into an automaking heavyweight", a report added.

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