Tesla Reaches an Agreement to Build a New Factory in China

The Wall Street Journal has reported that Tesla has come to an agreement with the government of Shanghai to construct a new factory in the city's free trade zone. The news comes after initial talks between the automaker and Shanghai officials began talks back in June. According to the report, Tesla will own the new factory themselves rather than teaming up with one of the local manufacturers. This is the first time a foreign automaker has fully owned its means of production in China even though ...