Tesla to set up China plant without local partners

Robots assemble Model S Tesla’s 5.3-million-square-foot plant in Fremont CA. Source David Butow  For The Times

Electric-car maker Tesla Inc.is moving closer to increasing its market share in China for becoming the first foreign vehicle company.

The US-based company said it expects to agree on a plan by the end of the year, Reuters reports.

According to commentators, China's electric-vehicle market is already the world's largest and is likely to grow fast, especially as the government planned to require that all automakers' sales include a certain percentage of electric vehicles from 2019. By setting up a factory in the city's free trade zone, Tesla also could reduce production costs significantly.

Tesla is reportedly making a foray into the world's largest growing market for electric vehicles (EV) with an agreement to set up a factory in China to serve the needs of the local market.

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Tesla reiterated a statement from June that it is working with the Shanghai government to explore local manufacturing. The company said that it is planning to open its own manufacturing facility in Shanghai by end of the year.

Electric auto manufacturer Tesla Inc. reached an agreement with the Government of Shanghai to build a new manufacturing facility for electric vehicles in the city's free trade zone, becoming the first foreign automaker to start its fully owned auto production line in the country. Furthermore, Tesla recently announced that vehicles produced for the Chinese market will have a dual charging port that supports the GB/T domestic charging standard, along with Supercharging.

"We continue to evaluate potential manufacturing sites around the globe to serve the local markets".

Tesla is brawling with production problems at its main factory in Fremont, California.

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Tesla will own the factory, rather than partner with a local manufacturer, as it typically the case.

The increase in borrowing capacity will give the Tesla the ability to offer consumers better lease deals as it scrambles to break bottlenecks that have dogged production of its newest and most affordable vehicle, the Model 3.

This operation would be inside one of China's free-trade zones, said the people familiar with the situation, who have requested anonymity.

Shanghai is China's automotive capital and an important market for the luxury cars of all kinds. Chinese electric vehicle company BYD, which is backed by Warren Buffett, was the best-selling electric carmaker past year and sells seven models in the country. Currently, Tesla is preparing for the announcement of deals with the Shanghai government.

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