Prosperity, Asia Pacific, Inclusive Growth

Tesla’s China move shows future shape of electric car market

Responsible Business | Jan 29, 2019


US electric carmaker Tesla has broken ground on a new manufacturing facility near Shanghai, China, the company’s first facility outside of the USA. The plant, which is expected to open later this year, will produce affordable versions of the company’s Model 3 and Model Y for China. The country has emerged as the world’s largest market for electric vehicles, with its fleet growing over the last seven years from less than 20,000 to more than 1.2 million.

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