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Tesla plans to build a plant in China capable of producing 500,000 vehicles a year, Bloomberg says.
The report comes a day after Electrek said the electric-car maker raised prices of its Model S and Model X vehicles in China by more than $20,000 apiece.
Shares - % - Tuesday
Tesla shares were up more than 2% on Tuesday.
Watch Tesla trade in real time here.
Shares - Tesla - Tuesday - Morning - %
Shares of Tesla were rallying Tuesday morning, up more than 2%, after a report said the electric-car maker was planning to build a factory in China that could produce 500,000 vehicles a year.
Bloomberg's report, which cites people familiar with the plans, says Tesla will sign a memorandum of understanding with the local government in Shanghai.
Tesla - Deal - Authorities - Plant - China
Tesla has long been trying to work out a deal with local authorities for a plant in China. The carmaker held talks with Shanghai's municipal government back in October to set up a factory in the region. CEO Elon Musk has...
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