Tesla to Build Factory in China

Reuters

Reuters

Tesla can explore setting up shop in China on its own as authorities consider allowing overseas auto makers to set up wholly owned electric-vehicle factories in free-trade zones. Several previous reports of the company reaching an agreement to set up shop in China have proven to be mere speculation.

The new facility will be Tesla's first real footprint in China's fast growing electric auto market, with the company's current presence only coming in the form of sales offices. Wholly foreign-owned entities are allowed in Shanghai's free-trade zone, which was established in 2013, although products made there are...

Tesla is reportedly making a foray into the world's largest growing market for electric vehicles (EV) with an agreement to set up a factory in China to serve the needs of the local market. Tesla is deeply committed to the Chinese market, and we continue to evaluate potential manufacturing sites around the globe to serve the local markets.

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Crucially, Tesla would operate the factory itself, according to the report, rather than partnering with a local automaker. The proposed plant in Shanghai which is China's de facto automotive capital will be manufacturing Tesla models for Asian markets.

Tesla is hoping to complete this deal before the end of 2017. Unless they're willing to partner with a local brand (and thus give up both profits and technology), they have to pay for shipping vehicles and swallow a 25 percent import duty fee.

Tesla has opened its massive 50-stall Supercharger station that's located at the Lilac International Business Center in Shanghai, China.

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By working with local suppliers and making products close to its end customers in the region, Tesla could significantly reduce supply chain logistics costs and delivery costs. The Chinese government is aiming to sell seven million electric vehicles a year by 2025. Currently, Tesla is preparing for the announcement of deals with the Shanghai government.

China's home-grown manufactures now produce 43% of total vehicle sales in China but 96% of all-electric vehicles.

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