Tesla puts brake on Shanghai land buy – sources

Tesla’s Shanghai factory is currently producing vehicles at a rate of 450,000 units per year. But the U.S. electric car maker has reportedly halted plans to buy land to expand the plant to make it a global export hub. People familiar with the matter say it’s due to uncertainty created by U.S.-China tensions. 25% tariffs on imported Chinese electric vehicles imposed on top of existing levies introduced under former President Trump are still in place. And sources have told Reuters that Tesla now intends to limit the proportion of China output in its global production. Tesla currently ships China-made Model…