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News Ticker

Vingroup establishes VinMetal steel manufacturing company, enters Metallurgy Industry
Kaynes and DigiLens launch India’s first advanced waveguide manufacturing line 
Black & Veatch contribute global, regional best practices in sustainable infrastructure at Enlit Asia 2025
$2.3b AI-Focused data center for Jakarta
Building Momentum with Hyster: Koh Kock Leong’s Journey Toward Efficiency and Growth
Time for ASEAN to rethink a single currency amid global trade tensions
Secutech 2025 concludes with optimism and strong affirmation of growth
Zoomlion’s grand debut at 2025 Changsha International Construction Equipment Exhibition

Shanghai manufacturing plant for Tesla

Tesla Motors wants to set up in Shanghai as the base for its manufacturing facilities in China.

According to Bloomberg, Tesla is rumored to have signed a non-binding agreement with Jinqiao Group, a Shanghai government-owned company, on building production facilities in the city.

Both parties would invest $4.5 billion toward the $9 billion project, with Jinqiao Group required to provide Tesla Motors with ample lands to build the factory. If the rumors are true, the investment would be larger than the $5.5 which Disney splashed out to construct its Shanghai theme park.

Jinqiao Group says currently no deal has been reached with Tesla.

Production in China would help Tesla avoid a 25 percent import levy on imported cars, allowing the company to better compete against such companies as BMW, Audi and other manufacturers occupying the luxury segment of the market.

 

 

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