Reuters exclusively reports Tesla halts plans for land to expand Shanghai factory; market reacts

Reuters reported exclusively that U.S. electric car maker Tesla Inc halted plans to buy land to expand its Shanghai plant and make it a global export hub due to uncertainty created by U.S.-China tensions. With 25% tariffs on imported Chinese electric vehicles imposed on top of existing levies under former U.S. President Donald Trump still in place, Tesla now intends to limit the proportion of China output in its global production, two sources familiar with the matter told Reuters.