There's talk of Tesla building a factory in Shanghai
Picture: Tesla
Clean energy enthusiasts and fans of all things sleek, get ready: according to Engadget, a deal to build a Tesla factory near Shanghai was reportedly struck yesterday (Oct 22) between Elon Musk's representatives and the local government.
This deal could be the first of its kind, since it would allow a foreign automaker to own and run its own operations, but would not exclude Tesla from restrictions such as the 25 percent car import tariff. However, a Shanghai-based factory could still make use of domestic manufacturing and give the Chinese clean energy industry a much-needed boost.
China is already the biggest consumer of electric vehicles, with more sales (295,000) this year than the rest of the world combined, and a local factory could make those Musk-y consumer dreams cheaper than ever.
The news comes two years after Elon Musk expressed intentions to increase Tesla's presense in China, as China is expected to grow as one of the world's top consumers of electric cars. Oh, and did you hear about his plans for a New York to Shanghai rocket ship?