Tesla didn’t provide details on how much its China factory would cost when it announced the preliminary agreement with the Shanghai government last month. The carmaker didn’t respond to an email seeking confirmation of the China plans, and a spokeswoman for Tesla in the country didn’t return phone calls. China is the world’s biggest market for electric cars and the second-largest market for Tesla, trailing only the US Tesla expects to start producing the Model 3 in the new Chinese factory by 2020, the person said. Tesla didn’t provide details on how much the factory would cost when it announced the preliminary agreement with the Shanghai government last month. Analysts at Bloomberg Intelligence estimate that the required investment could be about $10 billion, double what Tesla is said to be planning.

Source: Mint August 01, 2018 12:22 UTC