 "Amid trade war, Tesla secures land in Shanghai for first factory outside US")
Electric auto brand Tesla Inc says it has secured land in Shanghai for its first factory outside the United States, pushing ahead despite mounting US-Chinese trade tensions.
Tesla said Wednesday it signed a "land transfer agreement" on a 210-acre (84-hectare) site for the factory. It announced the plan for a China factory in July after the Chinese government said it would end restrictions on full foreign ownership of electric vehicle manufacturers.
Those plans have gone ahead despite US-Chinese tensions over Beijing's technology policy.
Washington imposed penalty tariffs on Chinese goods and Beijing retaliated by raising duties on imports of American products including electric cars.
China is the biggest global electric vehicle market and Tesla's second-largest after the United States.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app