{"id":48296,"date":"2017-10-23T07:25:01","date_gmt":"2017-10-23T07:25:01","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=48296"},"modified":"2017-10-23T07:25:01","modified_gmt":"2017-10-23T07:25:01","slug":"tesla-reaffirms-effort-build-cars-china","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/tesla-reaffirms-effort-build-cars-china.html","title":{"rendered":"Tesla reaffirms effort to build cars in China"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 14pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">Tesla reaffirms effort to build cars in China<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Tesla reaffirms effort to build cars in China mum on <\/span>deal<span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\"> report: China levies a 25 percent duty on sales of imported vehicles and has not allowed foreign automakers to establish <\/span>wholly owned<span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\"> factories in the country, the world\u2019s largest auto market. Those are problems for Tesla, which wants to expand its presence in China\u2019s growing electric vehicle market without compromising its independence or intellectual property.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">China\u2019s government has considered allowing foreign automakers to set up wholly owned factories in free trade zones in part to encourage more production of electric and hybrid vehicles &#8211; which the government calls \u201cnew energy vehicles\u201d &#8211; to meet ambitious sales quotas.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Tesla would still have to pay a 25 percent duty on cars built in a free trade zone, but it could lower its production costs.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Tesla on Sunday pointed to a statement it made in June that the company \u201cis working with the Shanghai Municipal Government to explore the possibility of establishing a manufacturing facility in the region to serve the Chinese market. As we\u2019ve said before, we expect to more clearly define our plans for production in China by the end of the year.\u201d<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">A Tesla spokesperson in the United States declined to comment further beyond referring to the June statement.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">The Wall Street Journal reported that Tesla and the Shanghai government have reached a deal in that city\u2019s free trade zone. Shanghai is China\u2019s de facto automotive capital and a significant market for luxury vehicles of all kinds.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Chinese internet company Tencent Holdings Ltd(0700.HK) has a five percent stake in Tesla and is seen as a potential ally for Tesla\u2019s efforts to enter the Chinese market.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">It was unclear if the Chinese government will conclude a deal with Tesla to coincide with U.S. President Donald Trump\u2019s visit next month.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Tesla Chief Executive Elon Musk has said the company eventually will need vehicle and battery manufacturing centers in Europe and Asia.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\">Tesla is wrestling with production problems at its sole factory, in Fremont, California. It is trying to accelerate output of its new Model 3 <\/span>sedan,<span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 12pt;color: #000000\"> but conceded earlier this month that production bottlenecks had held third-quarter production to just 260 vehicles, well short of the 1,500 previously planned.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 8pt;color: #000000\">Source: http:\/\/www.reuters.com\/article\/us-tesla-china-factory\/tesla-reaffirms-effort-to-build-cars-in-china-mum-on-deal-report-idUSKBN1CR0ME<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/tesla-reaffirms-effort-build-cars-china.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Tesla reaffirms effort to build cars in China Tesla reaffirms effort to build cars in China mum on deal report: China levies a 25 percent duty on sales of imported vehicles and has not allowed foreign automakers to establish wholly owned factories in the country, the world\u2019s largest auto market. [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":48299,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[53459,24183,81830],"class_list":["post-48296","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-best-usa-latest-business-updates-and-news-usa-latest-business-and-regional-news","tag-current-business-updates-in-usa","tag-tesla-reaffirms-effort-to-build-cars-in-china"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/48296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=48296"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/48296\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/48299"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=48296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=48296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=48296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}