Tesla sets up electric car company in Shanghai
Tesla has registered a firm for electric cars in Shanghai ahead of the planned change of rule in Beijing. The EV maker had been negotiating to open business in China without the previously required local joint venture partner before but to no avail.
Now it looks as if the Californians would be the first to make such a move. The new company, Tesla (Shanghai) Co Ltd, was registered with the National Enterprise Credit Information Publicity System and will focus on electric cars, components and batteries, according to the filing.
Tesla had been trying to register a company of its own since last year reportedly. But only after the Chinese government decided to change the rule that required foreign firms to hook up with a local partner if they wanted to produce in China, Tesla is going ahead. It is unconfirmed though, whether Tesla Shanghai will take the form of the initially planned venture that would have seen Tesla built an entire plant.
Tesla CEO Elon Musk has however confirmed that the next Gigafactory for EV batteries will stand in China during the last conference call when he announced the Q1 earnings of the electric car maker.
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