Photo: AFPShanghai: Tesla boss Elon Musk said the electric car-maker would break ground Monday on a Shanghai factory that will allow it to sell to Chinese consumers and avoid tariffs from the China-US trade war. “Looking forward to breaking ground on the @Tesla Shanghai Gigafactory today!” Musk said on his official Twitter account. But since Tesla announced plans for the factory on land outside Shanghai’s urban core, the outlook for China’s consumer market has turned worrisome. The Shanghai factory will be Tesla’s first production line outside the United States. But Tesla has said its Shanghai plant will be “wholly-owned” by the company.

Source: Mint January 07, 2019 06:00 UTC