Tesla inks deal for Gigafactory 3 in China [TechCrunch Blog]
Tesla, Inc. (TSLA)
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Source: TechCrunch Blog
Kirsten Korosec 8 hours Tesla has secured the rights to about 210 acres of land in Lingang, Shanghai, the site of the electric automaker’s planned factory and its first outside of the U.S. Tesla executives and leaders of the Shanghai Economics and Information Committee, Shanghai Lingang Area Development Administration and Shanghai Lingang Group witnessed the agreement-signing ceremony in China on Wednesday. “Tesla’s mission is to accelerate the world’s transition to sustainable energy not only through all-electric vehicles, but also scalable clean energy generation and storage products,” Robin Ren, Tesla’s vice president of Worldwide Sales said in a statement. “Securing this site in Shanghai, Tesla’s first Gigafactory outside of the United States, is an important milestone for what will be our next advanced, sustainably developed manufacturing site.” The land transfer marks an important step for Tesla, which recently said rising costs had p
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