BEIJING: Tesla Inc has signed an agreement with the Shanghai government for an 860,000 sq m plot of land to build its first overseas Gigafactory, the electric carmaker said in a Chinese social media post.
The land agreement marks a key step towards the firm and its chief executive Elon Musk making cars locally in China for the fast-growing market, even as tariffs imposed by Beijing on US-made goods have caused it to hike prices of its imported models.
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