Tesla Narrowing in on Shanghai Factory

"We don't have anything new to add on this registration for now", a Tesla spokeswoman told Reuters on Monday.

Just a few weeks after China announced foreign companies will no longer need to partner with local Chinese companies in order to manufacture cars in the country, Tesla created Tesla Shanghai Co.

Bloomberg reports that a new business licence has been approved for a company registered by Tesla's set-up in Hong Kong. Amid pressure from the Trump Administration and lobbying from Tesla, CEO Elon Musk recently praised China for a "willingness to open their markets" and said he believed "they will do the right thing".

Tesla could be on the verge of announcing a Gigafactory in China after registering a new company in Shanghai's Free-Trade Zone.

Apparently contradicting the speculation in U.S. media reports, however, Chinese news outlet Sina claims Tesla's Shanghai entity is focused on import/export and technology development instead of auto manufacturing.

The Palo Alto, California-based company has been working with Shanghai's government since previous year to explore assembling cars in China. However, earlier this month he said the firm could soon unveil the location of a Chinese gigafactory.

Tesla refused to build a factory in China unless the regulations were eased to allow full control of factories by foreign owners. What's more, China continues to become an increasingly important market for electric auto manufacturers and in the past year, EV sales have increased by 149 per cent.

Beijing has set an ambitious target, whereby new-energy vehicles will account for a fifth of total sales by 2025.

(Copyright © 2015. All Rights Reserved.)
 
Recommended

Severe thunderstorm watch is in effect until 10 pm in Douglas County
A severe thunderstorm watch is in effect until 9 p.m. for Bristol, Providence, Kent, Washington and Newport counties. Plus, a tornado or two is possible - though not especially likely. "Will need to be monitored closely".

Final Fantasy 6's Locke Cole joins Dissidia Final Fantasy NT
Those who are Final Fantasy fans they already know what makes Nobuo Uematsu a legend. Not episodes like The Council , parts like the three Final Fantasy XIII games.

Showers and Thunderstorms for Tuesday
Confidence is also growing in the potential for slow moving thunderstorms to bring heavy rain and gusty winds. The Sierra will more than likely see active weather each afternoon and evening through Thursday .

Cardi B Deletes Instagram After Reigniting Feud With Azealia Banks
Azealia Banks saw that and called Cardi B "illiterate" because she makes some typos sometimes. And because I laugh a little harder or talk a little louder doesn't make me a caricature!

UK Jobless Rate At 43-Year Low; Real Wages Increase
The ONS said that once inflation was taken into account, real regular pay was up by 0.4% on a year ago while total pay was flat. Scotland's overall employment rate stood at 74.7 per cent - lower than the UK's at 75.6 per cent.

Nigeria name uncapped strikers for World Cup
Okala said that he personally saw the provisional list as a good list "with lots of hope in it". The Russia 2018 FIFA World Cup finals is scheduled to kick off on June 14 and end on July 15.

Car Crash Senior Prank Gets Compliments From Police
In an unusual move, a police department in Wisconsin is actually praising high school seniors for their creative prank. But then I thought, 'This has gotta be a prank, '" Principal Ritchie Narges told TMJ4 .

Colorado rangers hunt bear that tried to drag away child
State officials have seen an increase in bear conflicts over the years as more people continue moving to Colorado and push farther into bear country.

Reds confirm Champions League spot
Liverpool defender Dejan Lovren has enjoyed a swipe at their big spending rivals as he prepares for the Champions League final. Although one factor to elude Salah this season - to date - is a serious trophy.

Jamaal Lascelles: Newcastle must do everything to keep Rafa Benitez
But signing the Brazilian could prove tricky after failing to agree a fixed fee with Chelsea in the loan deal. Jokanovic has never managed in the Premier League but has worked wonders in the Championship .

California first U.S. state to require solar on new homes
The regulations include exceptions for when solar panels aren't cost-effective or feasible, such as on a home shrouded in shade. California also has the goal to reduce its greenhouse gas emissions by 40 percent from 1990 levels by 2030.

Gov. Bryant backs Trump for Nobel Peace Prize
The governors of Alabama and MS are among those supporting the nomination of President Donald Trump for a Nobel Peace Prize . The letter is also signed by the governors of Alabama, Guam, Kansas, Mississippi, Maine and West Virginia.

Things You Might Have Missed From Last Night's WWE Raw
Reigns says that last week he was robbed, and this time it was not by WWE management, but instead by Jinder Mahal . One of the most anticipated WWE pay-per-view offerings of the year is upon us with the annual Money in the Bank .

Trump says first lady doing 'really well,' will leave hospital in days
She underwent renal artery embolization at Walter Reed on Monday and is expected to stay there for the rest of the week. The White House has cited the first lady's privacy for not offering any additional details on her condition.

Guardiola hopes Arteta would ignore any Arsenal overtures
The veteran manager spent 22 years with the north London club but called time on his tenure after the end of this season. Mike Arteta looks set to take over from Arsene Wenger as the new Arsenal manager after bookies suspended betting.


More News

News
More News