Tesla Wants to to Build a Massive Factory in China

Tesla Wants to to Build a Massive Factory in China

Since the upcoming Tesla Model 3 is facing such an incredible demand, Elon Musk’s company has decided that it’s time to build a brand new factory, and it looks like this factory will be located in a major Chinese city. We’re actually talking about the country’s most populous city, Shanghai, which could host Tesla’s new $9 billion factory. According to a “person with knowledge of the matter” who wishes to remain anonymous, the company has struck a deal with the government-owned Jinqiao Group for a non-binding agreement that would allow Tesla to build its new plant in this Chinese municipality.

The deal would see both parties invest about $4.5 billion each, with the Chinese firm paying for most of its share by offering up the necessary land. By building the plant in Shanghai, Tesla would manage to avoid China’s 25 percent import tax, which it currently pays for each and every vehicle that is shipped into the country. It’s worth noting that no papers have been signed just yet, but the rumor alone was enough to cause a rise in both of the companies’ shares. Khobi Brooklyn, Tesla’s spokeswoman’ has refused to comment on these rumors so far, but if they turn out to be true, we’ll likely see an official announcement soon.

If you want to stay informed with the tech news, tech updates, you can follow our blog on social networks.

Comments

Post a Comment

Popular posts from this blog

"Investors need a minimum." When Bitcoin Will Begin Recovery

Image
  Experts have named two important factors that will allow the first cryptocurrency to complete the correction phase and return to growth. Over the past three months, the value of bitcoin has been gradually decreasing. The asset moved to a downward movement after it updated the historical maximum above $ 69 thousand in early November 2021, since then it has fallen in price by 38%. On January 10, the price of the cryptocurrency for the first time since September fell below $ 40 million. on January 17, the asset is traded at $ 42.7 thousand Experts explained that it puts pressure on the bitcoin rate and when the cryptocurrency will be able to return to growth. Investor Fear The financial world has recently been living in anticipation of a tightening of the Fed's monetary policy, which will lead to a massive flow of investors' funds from emerging markets to the dollar, explained Artem Deev, head of the analytical department of AMarkets. According to him, against this background, t
Read more

Eco-friendly investments. How to help the planet by earning on crypto assets

Image
What is the concept of regenerative finance (ReFi) and what projects help to invest in helping the environment How the concept of regenerative finance (ReFi) works and what decentralized economic models can contribute to solving environmental problems The ReFi concept is a direction of decentralized finance (DeFi), within the framework of which complex and harmonious economic models are created, participation in which, in addition to direct material remuneration, favorably affects the environment or contributes to the solution of social problems. Restorative or "regenerative" finance, like most Web 3.0 industry terms, has a multi-part and vague definition. Proponents of the concept are trying to solve an important, to some extent utopian problem. The ReFi model is still poorly used in real project developments, and existing solutions are still used only by a small number of truly interested participants. Nevertheless, the scale of the concept over time can make the idea of Re
Read more

When Bitcoin Will Be More Expensive Than $100 Thousand: A Selection of Predictions

Image
Experts analyzed the market situation and gave forecasts for the growth of bitcoin after updating the historical maximum set in 2021Since the end of January 2024, bitcoin (BTC) has risen in price by one and a half times and reached a record $59 thousand per coin since 2021. The all-time high of the bitcoin rate was reached on November 10, 2021 at $68.7 thousand. According to Coingecko, on February 28, bitcoin's capitalization exceeded $1.1 trillion, which is more than half of the market share of the entire crypto market, the total capitalization of which is estimated by analytical services at $2.2 trillion. Ethereum (ETH), the second largest cryptocurrency by capitalization, has also updated its annual maximum, with Ether trading above $3,300 with a capitalization of more than $398 billion. Bloomberg called the activity of retail investors before the upcoming halving and the launch of bitcoin-based exchange-traded funds on January 11, 2024, the main reasons for the rise of bitcoin
Read more