Please try another search
© Reuters Musk says rumors are 'False'; Tesla (TSLA) will not export vehicles from China to U.S.
By Michael Elkins
Tesla (NASDAQ:TSLA) CEO Elon Musk replied "False" to a Reuters story on Twitter today after the report suggested that the company was considering exporting its cars made in China to the United States.
The original report cited two people familiar with the situation saying that the electric vehicle giant has been studying whether parts made by its China-based suppliers are compliant with local regulations in North America, and if they are, could ship China-made Model Y and Model 3 cars for sale there as soon as next year.
One of the sources who refused to be named in the report claimed that the alleged study could also open a channel for exports to Canada.
Tesla's Shanghai Gigafactory has the capacity to produce 1.1 million electric vehicles per year after an upgrade earlier this year, making it Tesla's most productive manufacturing hub. The Shanghai plant makes Model 3 sedans and Model Y crossovers to sell in China and for export to markets including Europe, Australia, and Southeast Asia.
Until this point, Tesla's U.S. strategy has been to build the cars it sells in North America at its plants in Fremont, California, and Austin, Texas. The California plant produces the Model S, the Model 3 sedans and the Model X and Model Y crossovers. The Texas plant makes the Model Y and will produce Tesla's upcoming Cybertruck.
Shares of TSLA are down 1.47% in mid-day trading on Friday.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Enrich the conversation, don’t trash it.
Stay focused and on track. Only post material that’s relevant to the topic being discussed.
Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.