Tesla Inks Deal For Chinese Factory Skirting Trump Tariffs

Tesla Inc. has reached a preliminary agreement with the Shanghai government to build a factory that’ll rival production from its lone U.S. assembly plant, as Elon Musk takes his biggest step yet to expand overseas.

The electric-car maker’s planned capacity for the factory is 500,000 vehicles a year, the Shanghai government said in statement. Bloomberg reported earlier that Musk, Tesla’s CEO, would be in the city for an event with the government on Tuesday. A Tesla representative in China didn’t immediately respond to a request for comment.

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TheSteve - 7/10/2018 1:11:11 PM

-2 Boost

Bring on more "winning" :-/

The whole world knows that trade wars are counter-productive. They're harmful to all concerned. US economists and business leaders learned that fact, decades ago. Evidently, #45 didn't get the memo. Or he just didn't read it.

countguy - 7/10/2018 4:15:32 PM

+1 Boost

lmao, very nice

MrEE - 7/10/2018 7:17:39 PM

+6 Boost

Tesla was already planning this well before the tariffs, just as HD was.

CANADIANCOMMENTS - 7/10/2018 8:20:20 PM

+3 Boost

@MD - Isn't the future of the automotive industry focused on the wants and demands of the Chinese market? Other car manufacturers make cars there. Tesla will too. A smart move.

MDarringer - 7/10/2018 9:36:38 PM

+1 Boost

Actually, I think this is a prelude to someone like Geely buying Tesla.

CANADIANCOMMENTS - 7/10/2018 11:11:51 PM

0 Boost

@MD That is a very shrewd observation...

CarCrazedinCali - 7/10/2018 10:55:21 PM

+3 Boost

Merica

supermoto - 7/11/2018 12:54:14 PM

+1 Boost

This is a non-story. Tesla doesn't have a single penny to spend on a new factory. They are structurally bankrupt, having negative working capital (current assets - current liabilities) of $2.4 billion.