Chinese Industrial Ministry allows Tesla to manufacture electric cars machines in the country.

Alleseuropa recalls that in the first quarter of 2019, Tesla reported a loss of $ 702 million.

In 2018, the company also experienced problems: its shares fell in price, and it did not work to reach the planned production targets for the budget Tesla 3 model.

Back in August 2018, the founder of the company, Ilon Musk, provoked a scandal: he tweeted that he wanted to withdraw Tesla from the exchange and redeem all shares at a price higher than the market.

Advertisements

After that, the shareholders accused the businessman of fraud and misleading investors. He paid $ 20 million in compensation; the company itself was fined the same amount.

Alleseuropa reports that their seems to be a new light for Tesla , as the Chinese authorities stimulate the development of the electric car market and introduce incentives for their owners. This is done to reduce emissions and improve the poor environmental situation in the country.

Alleseuropa reports that the American company Tesla has received permission from the Chinese authorities to manufacture electric vehicles in the country.

Tesla has entered the China register of approved car manufacturers. “This means that now the company can start production of machines at a Chinese plant at any time,” says Yael Zhang, who is the head of Automotive Foresight consulting firm in China.

Alleseuropa reports that in response Tesla talked about plans to launch mass production of the Tesla 3 model in October at a plant in Shanghai, the construction of which cost $ 2 billion. This is the company’s first company outside the United States.

Advertisements

According to reports, by the end of 2019, Tesla wants to set up production to produce a thousand cars a week, but so far the plant lacks employees. The company expects to increase sales in the world’s largest car market and avoid the increase in import duties that China introduced due to trade wars with the United States.

Experts note that Beijing has taken the first step in liberalizing the country’s automotive market: the Tesla plant is the first in the country that is wholly owned by a foreign company. The country’s authorities also decided to exempt Tesla electric cars from a 10% tax.

Alleseuropa reports that this seems light a light at the ends of the tunnels from the last lost in the first quarter of 2019, when Tesla reported a loss of $ 702 million. In 2018, the company also experienced problems: its shares fell in price, and it did not work to reach the planned production targets for the budget Tesla 3 model.

Comments are closed.

Don`t copy text!