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American manufacturer of electric vehicles Tesla wants to build a plant in China to produce cars, which will manufacture up to 500 thousand cars a year, according to Bloomberg, citing informed sources. According to sources, an agreement is being prepared with the Shanghai authorities to build a plant in the free economic zone of Shanghai. In 2017, China, the world's largest market of cars and electric vehicles, accounted for about 17% of Tesla's revenue. The company's sales in China amounted to about 15 thousand cars. In the second quarter of 2018, Tesla produced a total of just over 40,000 cars. The construction of the plant in China will bring Tesla production closer to the end consumer and lower the price of its products.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...
China’s industrial firms had seen an increase in profits for two consecutive months. This came as the most rapid pace ever recorded in over a year, suggesting that the country’s recuperation from the novel coronavirus pandemic ...
Oil prices fell on Monday as a surge in coronavirus cases and the escalating U.S.-China tensions prompted a safe-haven bid. Brent crude slid 0.2%, or 8 cents, at $43.26 per barrel. U.S. West Texas Intermediate crude fell 0.2%, or 7 cents, ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...
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