Tesla reportedly reaches agreement to build auto factory in Shanghai
Tesla reportedly reaches agreement to build auto factory in Shanghai
Tesla reportedly reaches agreement to build car factory in Shanghai
26 October, 2017, 00:27
It was also previously reported in June that Tesla was looking at Shanghai and Guangdong for a plant to expand in China.
A driver uses Tesla's charging station in Xi'an, capital of Shaanxi province.
But it referred to a statement the company made in June, which stated, "Tesla is working with the Shanghai Municipal Government to explore the possibility of establishing a manufacturing facility in the region to serve the Chinese market". But since the cars would be manufactured in the city's free trade zone, it would not get exemption from the import tax of 25 percent. Until now, China has required all foreign manufacturers to partner with a Chinese company before building a factory within the country. "As we have said before, we expect to more clearly define our plans for production in China by the end of the year". It indicates that Tesla would be able to chop down some costs of production.
Some foreign auto manufacturers already build their cars in China, but to avoid the 25 percent tariffs China requires the car makers to find a local partner to build those vehicles, which can mean splitting profits, losing control over the finished product, and sharing trade secrets with a local company.
Last month the Ministry of Commerce and the National Development and Reform Commission had said that China would further open up the new energy vehicle sector. In addition, it will also reduce the sale price of Teslas in China.
Tesla delivered 13,500 cars in the first nine months of 2017 in China, more than double from a year earlier, according to the China Passenger Car Association.
Electric auto maker Tesla Inc. reaffirmed on Sunday it is talking with the Shanghai municipal government to set up a factory in the region and expects to agree on a plan by the end of the year, but declined to comment on a report that a deal has been reached.
Tesla is wrestling with production problems at its sole factory, in Fremont, Calif.
Billionaire Mr Musk has previously hinted that building Tesla cars in China could reduce their price by a third, with local taxes and shipping costs meaning they cost up to 50pc more than identical vehicles sold in the U.S., where the company now has its only production line.
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