On Friday, Tesla announced that it is now looking for means to reduce the impact of tariff on its products, specifically its Model 3 sedan, by building more cars in their Shanghai factory.
CNBC reported in October that Tesla purchased an 864,885-square meter plot of land in the Lingang area of Shanghai where the company plans to build its first facility outside of the U.S. Musk's company purchased the land for approximately 973 million yuan, or $140 million, on Wednesday.
It is noted that sales of the model S and model X in China are suffering due to the recent imposition of duties by the Chinese government for the vehicles manufactured in the United States. Its plan to make Model 3s in China is meant to help alleviate some of that pain.
The filing includes plenty of legal language warning the time frame on its production targets was "subject to a number of uncertainties, including regulatory approval, supply chain constraints, and the pace of bringing the factory online".
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We have also agreed to donate over £1 million to charities chosen by Take-Two Games, ' said Trusted Reviews . So what happened? Trusted Reviews published a post explaining the matter.
Topping off the segment in its filing, the firm said that if it's not able to resolve the issue by establishing manufacturing activities in the country and other jurisdictions or ramp up production capabilities at Gigafactory 1, its business and prospects could be harmed.
A Tesla spokesman Friday would only refer to the company's previous statements about the timeline of the Gigafactory in China.
The Palo Alto, California-based electric auto giant said China is the largest market for electric vehicles in the world and its local market in there is at the initial phase of Gigafactory 3, which will have increased levels of localization through local sourcing and manufacturing.