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Tesla reaches deal to build electric vehicle factory in China

July 11, 2018 by Emily Jackson

(Source: Tech Crunch) Tesla has reached a deal with the Shanghai government to build a factory capable of producing 500,000 electric vehicles a year. The factory would be the automaker’s second assembly plant and aimed at serving the alluring Chinese market. Tesla and the Shanghai Municipal People’s Government announced Tuesday they had signed the cooperative agreement. Tesla announced last year it was working with the Shanghai municipal government to explore the possibility of establishing a factory in the region. Construction on the factory, which the company has dubbed Gigafactory 3, is expected to begin “in the future after we get all the necessary approvals and permits,” a Tesla spokesman told TechCrunch in an emailed statement. Read full article

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