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takyon [soylentnews.org] writes:

Tesla has reached an agreement to build a factory in Shanghai, China [bloomberg.com]:

Tesla Inc. has reached an agreement with the Shanghai government to set up its own manufacturing facility in the city, the Wall Street Journal reported Sunday, citing people briefed on the plan.

The Palo Alto, California-based carmaker is working with the local government on the timing and details of an announcement, the people told the newspaper. The deal, which without a local partner likely won't negate China's 25 percent import tax, will still allow Tesla to reduce its production costs drastically, according to the report.

China is the world's largest market for automobiles [theverge.com].

Also at The Verge [theverge.com] and WSJ [wsj.com].

Previously: Tesla's Big China Chances on Indefinite Hold [soylentnews.org]

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