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Tesla confirms will build factory in China – China’s latest business and technology news


Electric-car manufacturer Tesla said it has signed a preliminary agreement with the Shanghai government to establish factories in China to “ensure affordability.” The deal could cut prices of Tesla vehicles in China by a third.

About 15 percent of Tesla’s $7 billion in revenue was generated in China last year, which equates to about 11,000 vehicles sales, Bloomberg says. There were 5,500 cars sold in China in the first four months of 2017, according to EV Sales, a website that tracks the electric-vehicle market. A total of 507,000 new-energy vehicles, including electric cars, were sold last year in China, according to the China Association of Automobile Manufacturers.


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Jia Guo

Jia Guo is from the coastal city of Qingdao. She has an M.A. in multimedia journalism from NYU and has worked at Facebook and Bloomberg TV in New York City.