Tesla is Planning to invest Billions in a Chinese Factory. Tesla wants to invest $ 5 billion in a Chinese factory. That’s what sources around the maker of electric cars reported.
Tesla would like to raise that money from Chinese investors in part. The company itself does not have enough money for that investment.
CEO Elon Musk himself says he anticipates that his company will obtain a profit for the first time in the second half of the year.
Tesla already agreed last month to build a factory near Shanghai. The company wants to produce half a million cars every year. In 2020, the first cars of type Model 3 of the tire should roll.
Having a factory in China has become more severe due to the trade war between the United States and China.
Tesla was already forced to raise prices in the Asian country due to import duties. China is one of the most critical markets for Tesla.