Elon Musk and Shanghai Mayor Hang Zen attended the first Sod of Tesla Motors Giant in China, according to Reuters. The factory in which model 3 will be produced is required to work till the end of the year.
The value of the new donation will be $ 2 billion (€ 1.75 billion) and it will become China's first fully automotive foreign-owned car manufacturer, where producers can only work in cooperation with local companies. Thus, Tesla will have the opportunity to compete more successfully with the Chinese competition in the war of bad trade with the United States.
Due to the import duty on US goods, the company's sales in China have dropped, and its production is currently in the United States. Construction begins between pessimistic predictions about the first decade of crisis in the Chinese automotive market.