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Tesla sets up unit in China – a step closer to EV production

May 14, 2018 by Abhilasha Fullonton

(Source: MoneyWeb) Tesla has set up a new wholly owned company in Shanghai, moving a step closer to producing its electric vehicles in China and establishing its first gigafactory outside US shores.Tesla’s Hong Kong division registered the new company with a capital of 100 million yuan ($15.8 million), the National Enterprise Credit Information Publicity System said on its website. The business scope of the unit includes technological development and services on electric vehicles, auto parts, batteries, energy storage facilities and solar panel products, according to the website. Read full article…

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