NewEnergyNews: Tesla Eyes The China EV Market

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    Friday, June 23, 2017

    Tesla Eyes The China EV Market

    Tesla moves a step closer to building electric cars in China

    Norihiko Shirouzu and Paul Lienert w/Jake Spring, Marguerita Choy, Bernadette Baum, June 22, 2017 (Reuters)

    “…[Tesla’s exploratory talks with the Shanghai municipal government moves it] a step closer toward establishing an electric vehicle manufacturing plant in China…Tesla has said it wants to build electric cars in China to avoid a 25-percent tariff on imported vehicles…[but has not provided] a timeline for setting up a China plant…China's central government requires foreign companies such as Tesla to have a Chinese partner in new auto manufacturing ventures, with the foreign company owning no more than 50 percent...Tesla did not say which companies it might partner with, sparking rampant online speculation…[about] Shanghai Electric Group Co (601727.SS), Shanghai Lingang Holdings Co (600848.SS) and Tianjin Motor Dies Co (002510.SZ)…Much of the speculation has centered on Tencent Holdings Ltd (0700.HK), the internet giant that is China's largest company. Earlier this year, Tencent acquired a five-percent stake in Tesla for $1.8 billion…” click here for more

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