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23.10.2017 11:45
Tesla Reaches Deal for Shanghai Facility
AUTHOR: publics.bg


  • © Tesla

Tesla Inc. reached an agreement with Shanghai’s government to build a fully owned manufacturing facility in the city, Reuters reported.
 
The California-based company on Monday reiterated a statement from June that it’s working with the Shanghai government to explore local manufacturing. Tesla had signed a preliminary agreement with local authorities to produce cars in the city, a move that would help lower manufacturing and shipping costs.
 
The plans are part of a broader effort by China to accelerate electric-car development and establish a timeframe to phase out the production and sale of conventional-engine cars. Tesla has a greater range of options in China as authorities consider allowing overseas carmakers to set up wholly owned electric-vehicle factories in free-trade zones. Current rules require foreign automakers to have joint ventures with local companies for domestic production, Reuters reminded.
 
“We expect to more clearly define our plans for production in China by the end of the year. We continue to evaluate potential manufacturing sites around the globe to serve the local markets. While we expect most of our production to remain in the U.S., we do need to establish local factories to ensure affordability for the markets they serve”, Tesla said in a statement.
 
Local production would make it easier for Tesla to access China’s auto-parts supply network and engineering talent pool at lower costs, accelerating sales growth and helping it compete with BYD Co. – China’s largest maker of electric cars – for market dominance.
 
China has identified new-energy vehicles as a strategic emerging industry and aims to boost annual sales of plug-in hybrids and fully electric cars 10-fold in the next decade.

TAGS: Tesla | electric vehicles | production | facility | China | Shanghai 


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