(Original title: Foreign media said Tesla will reach an agreement in Shanghai this week as soon as possible)
[TechWeb Report] June 20 news, according to foreign media reports, informed sources, Tesla has reached an agreement with the relevant parties in Shanghai to set up a car manufacturing plant in Shanghai, will be the first time in China to produce cars.
Informed sources said that the agreement will be reached as early as this week and will allow Tesla to set up a factory in Lingang, Shanghai. Some details of the agreement are being determined, and the time for the announcement may also change.
It is not yet clear which Chinese company will become Tesla's partner, and Tesla will jointly set up a joint venture to produce cars.
Tesla’s spokesperson did not immediately respond to foreign media comment requests.
According to foreign media, the establishment of local production facilities is the key to Tesla's continued growth in the Chinese market. Last year, Tesla’s revenue in the Chinese market reached more than US$1 billion.
In March of this year, Tencent spent about $1.8 billion to buy Tesla's 5% stake. (Song Xing)
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