SHANGHAI, China - Tesla has signed an agreement with the Shanghai government for a plot of land to build its first overseas US$2 billion (S$2.75 billion) gigafactory.
The US$2 billion investment will double the size of Tesla's manufacturing and enable the electric vehicle maker to trim prices of its cars in China, the world's largest auto market.
In July, Tesla said it was opening a plant in Shanghai with an annual capacity of 500,000 cars.
from Asia
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