Tesla signs an MoU to build a manufacturing plant in Shanghai

Tesla Inc on Tuesday signed a memorandum of understanding with the Shanghai government.

Tesla Inc on Tuesday signed a memorandum of understanding with the Shanghai government that includes plans to build a plant in the Chinese city with an annual capacity of 500,000 cars, the Shanghai government said.

Tesla Logo

Tesla Logo

The Shanghai government made the announcement on its official WeChat account which showed a picture of Tesla Chief Executive Elon Musk shaking hands with Shanghai Mayor Ying Yong.

In more recent news concerning Tesla, the US carmaker has hiked prices on its Model X and S cars by about 20 percent in China becoming the first automaker to do so in the world’s top automotive market in response to mounting trade tensions between the countries.





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