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Tesla's plans to manufacture in China stuck in neutral

Published 02/14/2018, 09:19 AM
© Reuters.  Tesla's plans to manufacture in China stuck in neutral
TSLA
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  • There could be trouble for Tesla (NASDAQ:TSLA) in China, according to a report from Bloomberg.
  • Sources indicate that the automaker hasn't reached an agreement yet with the Shanghai government on manufacturing cars locally without a JV partner.
  • Tesla is trying to work out the exception with China's Ministry of Commerce, National Development and Reform Commission and the Shanghai Economy and Information Commission.
  • Bloomberg notes that while an agreement between Tesla and China authorities can still be hashed out in the future, some market opportinties are slipping away.
  • Shares of Tesla are down 0.88% premarket to $320.80, roughly in line with broad market averages.
  • Now read: Tesla Firing On All Cylinders - Victor Dergunov's Idea Of The Month


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