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Tesla Plans China Plant With 500,000 Vehicle Capacity

Tesla Inc. is planning a factory in China with a capacity for 500,000 vehicles a year, its biggest step beyond the U.S. so far, according to people familiar with the matter. Tesla is due to sign a memorandum of understanding with local entities in Shanghai, the people said, asking not to be identified as the information isn’t public. Bloomberg reported earlier that Chief Executive Officer Elon Musk would be in the city for an event with the government on Tuesday. …read more […]

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The Thai government responded to Elon Musk, and said his submarine idea is 'not practical' for the cave rescue

Musk has floated a number of ways to rescue the Thai soccer team stuck in a cave, and sent engineers to the site. The Thai prime minister said he was “highly appreciative” of Musk’s initiative. Elon Musk has floated a variety of ways to help free the members of the Thai soccer team — but his kid-sized submarine has been politely rejected for being “not practical” for the mission. …read more […]

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Tesla moves first to hike prices in China as trade war hits car makers

BEIJING/SHANGHAI (Reuters) – U.S. carmaker Tesla Inc has hiked prices on its Model X and S cars by about 20 percent in China, the first automaker to do so in the world’s top automotive market in response to mounting trade tensions between the countries. The move is the earliest indication of how much higher Chinese tariffs on certain U.S. imports will flow through to buyers, with other automakers likely to follow suit or shift a greater portion of production to China. “It’s only chapter one of this story,” said James Chao, a Shanghai-based analyst at consultancy IHS Markit, …read more […]