Tesla Nears Agreement To Produce Vehicles In China

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(RTTNews.com) - Tesla Inc. ( TSLA ) is close to an agreement to produce vehicles in China for the first time, Bloomberg reported citing people familiar with the matter.

The report noted that the agreement with the city of Shanghai would allow Tesla to build facilities in its Lingang development zone and could come as soon as this week. Details are being finalized and the timing of the announcement could change. Tesla would need to set up a joint venture with at least one local partner under existing rules and it isn't immediately clear who that would be.

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This article appears in: Politics , World Markets , Stocks
Referenced Symbols: TSLA

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