Tesla Said Close to Agreeing on Plan for China Production
- Local plant would allow automaker to bypass 25% import tariff
- Tesla’s China revenue tripled to more than $1 billion in 2016
Tesla Looks to Produce Cars in China
Tesla Inc. is close to an agreement to produce vehicles in China for the first time, giving the electric-car maker better access to the world’s largest auto market, according to people familiar with the matter.
The agreement with the city of Shanghai would allow Tesla to build facilities in its Lingang development zone and could come as soon as this week, said the people, who asked not to be identified because the negotiations are private. Details are being finalized and the timing of the announcement could change. Tesla would need to set up a joint venture with at least one local partner under existing rules and it isn’t immediately clear who that would be.