Tesla puts brake on Shanghai land buy as US-China tensions weigh — sources BusinessWorld


Source: bworldonline.com bworldonline.com

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Courtesy of Tesla, Inc. SHANGHAI — US electric car maker Tesla Inc. 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 US-China tensions. With 25% tariffs on imported Chinese electric vehicles imposed on top of existing levies under former US President Donald J. Trump still in place, Tesla now intends to limit the proportion of China output in its global production, two of the four people said. Tesla had earlier considered expanding exports of its China-made entry-level Model 3 to...