The Wall Street Journal quoted informed sources as saying Tesla had reached an agreement with the Shanghai Municipal Government of China that Tesla would build a wholly-owned factory in the Shanghai Free Trade Zone.
The report pointed out that Tesla will completely own its own manufacturing plant instead of cooperating with local automakers. This is related to the recent report that the Chinese government will relax restrictions on foreign car companies entering China. Recently, it has been reported that the Chinese government has already considered removing foreign investment restrictions on the electric vehicle business in the free trade zone and allowing foreign companies to solely establish electric vehicle business. The agreement is the first time that the Chinese government has allowed automakers to establish foreign-owned auto factories in China, which will reduce production costs.
The company’s co-founder, Elon Musk, said in June that he was seeking cooperation with the Shanghai government to explore the feasibility of local production. A Tesla spokesperson at the time stated that although Tesla wanted to leave most of the mass production of cars in the United States, Tesla still needed to build a local factory in the service market to ensure that car prices could be in a reasonable range. Inside.
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