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Tesla Aims for China; Plans $9 billion Investment

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Tesla Aims for China; Plans $9 billion Investment
Tesla Aims for China; Plans $9 billion Investment

Tesla’s latest factory will include land investment from Chinese company Jinqiao
By: Abdul Rafay Khan on Jun 21, 2016 at 2:08 pm EST
More articles on: Tesla Motors

Following massive orders of Tesla Model 3 and the introduction of cheaper Model S sedans, production is one area where this Electric Vehicle needs to focus now. And to do better, it has its eyes on China to fulfill the production demand with Shanghai being the most-preferred location to build a factory. The electric car manufacture will team up with state-owned company Jinqiao for the factory.
According to people familiar with the matter, Jinqiao has already signed a non-binding Memorandum of Understanding (MoU) to build Tesla’s production facility in the region. The investment size for building the factory is about $9 billion (60 billion Yuan), with each side investing $4.5 billion each (30 billion Yuan). Jinqiao would make majority of its investment for taking up the land on the production facility.

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www.technewstoday.com/30213-tesla-aims-for-china-plans-9-billion-investment/

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