Tesla pauses Shanghai land buy as U.S.-China tensions weigh: sources


Source: cnbc.com cnbc.com

Key Topics in this News Article:

News Snapshot:

In this article TSLA Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. Aly Song | Reuters U.S. electric car maker Tesla has halted plans to buy land to expand its Shanghai plant and make it a global export hub, people familiar with the matter said, 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 President Donald Trump still in place, Tesla now intends to limit the proportion of China output in its global production,...