Elon Musk showed off his dance moves at the launch of Tesla's Model Y electric sports utility vehicle programme at its new Shanghai factory on Tuesday, where the company delivered its first cars built outside the United States to the public. The $2 billion Tesla Inc factory started delivering cars in just 357 days, a record for global automakers in China. Billionaire CEO Musk danced enthusiastically on stage at the event, then stripped off his jacket and flung it aside to reveal a T-s
Tesla has started delivering Model 3 electric cars built at its Shanghai factory in just under a year since it began work on the $2 billion plant, a record for global automakers in China, and said it would ramp up deliveries from next month. The U.S. electric vehicle maker marked the start with an event on Monday where 15 Tesla employees received cars they had purchased, one of whom took the opportunity to propose marriage to his girlfriend after getting his new set of wheels. The Shanghai pla
BEIJING/SHANGHAI (Reuters) - U.S. electric vehicle maker Tesla Inc and a group of China banks have agreed a new 10 billion yuan ($1.4 billion), five-year loan facility for the automaker's Shanghai car plant, three sources familiar with the matter said, part of which will be used to roll over an existing loan. China Construction Bank (CCB), Agricultural Bank of China (AgBank), Industrial and Commercial Bank of China (ICBC) and Shanghai Pudong Development Bank (SPDB) are among the banks which hav
Tesla Inc's China factory aims to start production this month but it is unclear when it will meet year-end production targets due to uncertainties around orders, labour and suppliers, sources with knowledge of the matter said. The plant's mass production schedule is crucial for Tesla's hopes of reaching its total production rate at an annualised 500,000 vehicles by the end of this year. The $2 billion factory - Tesla's first car manufacturing site overseas - gained key government appr
The first car plant in China to be wholly owned by a foreign company.
Tesla signed a deal in July to build a factory in Shanghai.
It inked a deal for an 9.2 million square foot plot of land.
Most of the positions are senior in level.
Elon Musk is there for the announcement.
Ferrari made Formula One rivals sit up and take notice after an ominous show of speed in qualifying for Sunday's Chinese Grand Prix. World championship leader Sebastian Vettel took pole position with a lap more than half a second faster than that of Valtteri Bottas, the fastest of the two Mercedes drivers in third place. The German's best time of one minute, 31.095 seconds -- a Shanghai circuit record -- turned up the heat on a chilly afternoon with Finnish team mate Kimi Raikkonen joining him o
Twitter tirade about China trade policy didn't seem to hurt matters.
Tesla says it will "more clearly define [its] plans for production in China by the end of the year."
Polestar plans to reveal the Polestar 1 at the 2017 Shanghai Auto Show.
A huge market for electric cars.
The Briton eased his Mercedes across the line 6.2 seconds ahead of Ferrari's Sebastian Vettel.
Sebastian Vettel's win in Australia ended a victory drought for Ferrari.