Just In
- 8 hrs ago Xiaomi SU7 Electric Car Launched – May End Apple Inc.
- 9 hrs ago India's Leading Car Exports in February 2024: A Comprehensive Overview
- 10 hrs ago Marelli Develops Revolutionary Automotive Lighting Platform In China
- 11 hrs ago Honda Motorcycle & Scooter India Reaches 6 Crore Sales Milestone
Don't Miss!
- Finance 1:2 Split, 70% Dividend YTD: ICICI Direct Gives Buy On Cochin Shipyard; Miniratna Stock Up 280% In 1 Year
- Sports Rajasthan Royals Rising Star Riyan Parag's Redemption Story Takes Center Stage in IPL 2024
- Lifestyle Aditi Rao Hydari's 8 Tips for Glowing Skin: A Celebrity Skincare Routine Unveiled, Bonus Tips Included!
- Movies Krishna Mohini Promo: Fahmaan Khan- Debattama Saha's New Show Looks Promising, To REPLACE THIS Drama?
- News Jailed Gangster-Turned-Politician Mukhtar Ansari Dies Of Heart Attack
- Technology HONOR Pad 9 With Bluetooth Keyboard Up For Grabs At Rs 22,499 in India
- Education RSMSSB Junior Instructor Recruitment 2024; Apply online for 2500 Posts, Check out for more details
- Travel Explore Tamil Nadu's Diverse Wedding Venues
Tesla Edges Closer To Its First Production Plant In China
Tesla Inc is close to an agreement to manufacture electric cars in China.
American automaker Tesla Inc is close to an agreement to manufacture electric cars in China. By setting up a plant in China. Tesla will gain better access to the world’s largest auto market.
An agreement with the city of Shanghai will allow Tesla to set up its facilities in Lingang development zone. The deal is likely to be signed in this week.
Under existing rules, Tesla has to set up a joint venture with at least one local partner. In 2016, the electric carmaker’s revenue from China tripled to more than 1 billion dollars. But Tesla did not comment on the development.
In March 2017, China’s biggest internet company, the Tencent Holdings Ltd acquired 5 percent stake in Tesla for 1.8 billion dollars.
DriveSpark Thinks!
Electric cars are considered as the future of automobile industry. And now Tesla is gradually expanding its global reach. China is a key market for Tesla and by producing EVs in China will boost the revenue of the company.