Photo: CleanTechnica
There’s little doubt that Tesla will be opening a manufacturing facility in China, the world’s largest market for both fossil fuel and electric powered cars.
The rumor, which is on the table for quite some time now in respect to the production start of the Model Y, got a shot of adrenaline on Monday after Chinese publication Sina said it was informed of Tesla Motors Hong Kong getting a business license for a Shanghai branch.
According to the source, the new company will kick off business with a capital of 100 million yuan, or nearly $16 million. That is not nearly enough to build a factory, but a start nonetheless.
As per Electrek, the scope of the new company’s business includes the basic wholesale, import-export, and electric car display, but also is registered for technology development and transfer.
The fact that the new Tesla entity will be somehow linked with the establishment of the new manufacturing facility, be it of the Model Y or batteries, has not been officially confirmed.
Several times this year, Elon Musk said the Model Y is getting closer to the production date, the new target now being 2020. He also said that the location of the Tesla Gigafactory in China is to be announced soon.
For Tesla, manufacturing cars locally would open up a huge market. The Chinese government has already announced plans to allow foreign new-energy vehicles to set up facilities of their own in the country, despite the huge number of domestic producers.
As far as its models go, Tesla is likely will produce only the Model Y in Asia, and not the S or X. The Model Y is to be the smaller brother on the X, built on the platform used for the 3. Initial batches of the car are also likely to come off assembly lines at the existing facility in Fremont.
According to the source, the new company will kick off business with a capital of 100 million yuan, or nearly $16 million. That is not nearly enough to build a factory, but a start nonetheless.
As per Electrek, the scope of the new company’s business includes the basic wholesale, import-export, and electric car display, but also is registered for technology development and transfer.
The fact that the new Tesla entity will be somehow linked with the establishment of the new manufacturing facility, be it of the Model Y or batteries, has not been officially confirmed.
Several times this year, Elon Musk said the Model Y is getting closer to the production date, the new target now being 2020. He also said that the location of the Tesla Gigafactory in China is to be announced soon.
For Tesla, manufacturing cars locally would open up a huge market. The Chinese government has already announced plans to allow foreign new-energy vehicles to set up facilities of their own in the country, despite the huge number of domestic producers.
As far as its models go, Tesla is likely will produce only the Model Y in Asia, and not the S or X. The Model Y is to be the smaller brother on the X, built on the platform used for the 3. Initial batches of the car are also likely to come off assembly lines at the existing facility in Fremont.
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