Tesla secures Shanghai site for $2 billion China Gigafactory
Updated : October 17, 2018 04:10 PM IST
The land agreement marks a key step towards the firm and its Chief Executive Elon Musk making cars locally in China for the fast-growing market, even as tariffs imposed by Beijing on US-made goods have caused it to hike prices of its imported models.
Tesla signed a long-anticipated deal with Shanghai authorities in July to build its first factory outside the United States, which would double the size of its global manufacturing and help lower the pricetag of Tesla cars sold in the world's largest auto market.
Have you signed up for Primo, our daily newsletter?It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morningYOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more