> The electric car maker has planned an annual production of five lakh cars
> Tesla looks to expand its capacity and efficiently reach global markets
Tesla has inked a deal with the Chinese government to build a factory that will help bump-up production and expand its wings overseas.
China is the world’s largest market for electric vehicles and the latest trade wars between the US and China will result in an increase in Tesla car’s prices in the Chinese market. Simply put, a Tesla plant in China can help them reduce overall pricing since there’s a considerable cut in the costs to manufacture, sourcing components and shipping.
All car makers are eyeing China’s fast-growing electric revolution and want to be a part of it. We also covered BMW’s intent to build its first mass-market all-electric iX3 in China, which will also be shipped to the rest of the world. It doesn’t end here. After Tesla makes its move in China, it has also promised to reveal plans about building another Tesla plant, this time in Europe. Stay tuned for more information.