Tesla Advances in China, Buying Land Purchase for a Factory
Elon Musk’s electric-vehicle maker is speeding up construction of a plant in Shanghai in response to the U.S.-China trade dispute
SHANGHAI—Tesla Inc. gained a foothold in the world’s biggest market for electric vehicles, completing the purchase of land for its new Shanghai plant, the company announced.
“Securing this site in Shanghai, Tesla’s first Gigafactory outside of the United States, is an important milestone for what will be our next advanced, sustainably developed manufacturing site,” said Robin Ren, Tesla’s vice president of worldwide sales, in a statement issued following a signing ceremony in Shanghai on Wednesday.
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