Right after the car company was forced to raise the prices of its cars by at least $20,000 each due to China’s increased import tariffs on American-made cars, Tesla announced it would open its first international factory in Shanghai.
This will ultimately allow the car manufacturer to circumvent the newly imposed taxes once completed.
Musk was in Shanghai on Tuesday attending a government event — although he did not previously disclose why he was there. Now, it’s safe to say that at least part of the reason was that he was announcing this new factory. Read more…
Read more about this at mashable.com.