Tesla moves forward with a plan to build an energy-storage battery factory in China

News Snapshot:

The Associated Press BEIJING (AP) — American electric automaker Tesla's plans to produce energy-storage batteries in China moved forward on Friday with a signing ceremony for the land acquisition for a new factory in Shanghai, China's state media said. Construction is scheduled to start early next year with production to come on line by the end of the year, the official Xinhua News Agency said. The factory won't build batteries for cars but for electric utilities and other companies to store power. Such storage units have become increasingly important with the growth in solar power and wind energy, which only...