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Tesla has confirmed in a Bloomberg report that it is working with the Shanghai government to potentially produce cars in China.
Such a deal would would likely enable Tesla to bring down manufacturing, labor and shipping costs. It would eliminate a 25 percent import tariff that makes Tesla’s vehicles more expensive in China. Bloomberg previously reported that the automaker would build facilities in the Lingang development zone of Shanghai.
About 15 percent of Tesla’s $7 billion in revenue last year was generated in China, according to data compiled by Bloomberg.