View Original Article

TECHCRUNCH

Minibee Women's Walking Travel Loafer Flat Slip-On Casual ShoesNEW ECCO WOMENS BLUMA SUMMER BALLERINA , Easy Street Women's Edison Ankle Bootie, Brown, 7 W US , Crocs Women's Busy Day Stretch Asymmetrical Wedge - Choose SZ/Color , Keds Women's Chillax a-Line Metallic Linen Sneaker - Choose SZ/Color , CLARKS Women's Everlay Easley Slip-On LoaferEasy Street Women's Bryson Boot Brown Matte/Gore 8 N US , Bernie Mev Women's Cuddly Mary Jane FlatNine West Women's Unah Canvas Pointed Toe FlatNine West Women's Unah Suede Pointed Toe Flat , Crocs Women's Carlie Cutout Clog - Choose SZ/Color , Columbia Women's Vulc N Vent Boat Canvas Casual Shoe - Choose SZ/ColorSkechers BOBS Women's Bobs Plush-Posh Pup Flat - Choose SZ/ColorCrocs Women's Sarah Graphic Clog Mule - Choose SZ/Color , Klogs USA Women's Dusty Open Back ClogChestnut9 M US , Rebecca Minkoff Women's Ginny Espadrille - Choose SZ/Color , JENN ARDOR Penny Loafers For Women: Vegan Leather Slip-On Comfortable... , NEW COLE HAAN WOMENS PHOENIX BALLET FLAT - PEWTER METALLIC-GOLDDr. Martens Women's Lylah Slip-on Loafer Black 6 F(M) UK / 8 B(M) US , Easy Spirit Women's Traveltime Mule Black/White 7 WBernie Mev Women's Valentine Ballet Flat , Clarks Womens Natural Snake Timeless 8 BM USNaturalizer Women's Veronica Loafer,White Leather,US 7 MHot Chocolate Design Chocolaticas Lucy In The Sky Women's Mary Jane Flat , FitFlop Womens Superskate Slip-On, Velvet Silver, 7.5 BM USAravon Women's Betty-AR Black Sneaker 8 WW EE , Skechers BOBS Women's Plush-Cute Critters Ballet Flat - Choose SZ/ColorSkechers BOBS Women's Bobs Plush-Chambray Ballet Flat - Choose SZ/Color , Crocs Women's Busy Day Heathered Asymmetrical Wedge, Dark Grey, 7 M US ,

Tesla has secured the rights to about 210 acres of land in Lingang, Shanghai, the site of the electric automaker’s planned factory and its first outside of the U.S.

Tesla executives and leaders of the Shanghai Economics and Information Committee, Shanghai Lingang Area Development Administration and Shanghai Lingang Group witnessed the agreement-signing ceremony in China on Wednesday.

“Tesla’s mission is to accelerate the world’s transition to sustainable energy not only through all-electric vehicles, but also scalable clean energy generation and storage products,” Robin Ren, Tesla’s vice president of Worldwide Sales said in a statement. “Securing this site in Shanghai, Tesla’s first Gigafactory outside of the United States, is an important milestone for what will be our next advanced, sustainably developed manufacturing site.”

The land transfer marks an important step for Tesla, which recently said rising costs had prompted the company to accelerate construction of its so-called Gigafactory 3. Tesla warned in its production and delivery report in early October that tariffs, combined with the cost of shipping its vehicles via ocean carrier and the lack of access to cash incentives available to locally produced electric vehicles, has put the company at a disadvantage in China.

Tesla reasserted those statements Wednesday, noting that it expects the project to be a “capital efficient and rapid buildout, using many lessons learned from the Model 3 ramp in North America.”

Tesla reached a deal in July with the Shanghai government to build a factory that it says will be capable of producing 500,000 electric vehicles a year. Once construction begins, it will take about two years until Tesla can produce vehicles. It will be another “two to three years before the factory is fully ramped up to produce around 500,000 vehicles per year for Chinese customers,” a Tesla spokesman said at the time.

The Shanghai factory deal marks a shift within the Chinese government to allow foreign companies to build and operate wholly owned facilities there. Foreign companies have historically had to form a 50-50 joint venture with a local partner to build a factory in China.

Chinese President Xi Jinping has said the country will phase out joint-venture rules for foreign automakers by 2022. Tesla is one of the first beneficiaries of this rule change.

The agreement allows Tesla to construct and operate a wholly owned factory in Lingang. The new factory will carry out research and development, manufacturing and sales operations.

The Chinese government will still be involved, however. Under a cooperation agreement, the Shanghai government and Tesla will jointly promote electric vehicle technology and industry development. The city of Shanghai said it will provide support for Gigafactory 3, although details are thin as to what that might mean.

LOEFFLER RANDALL Women's localjoes-27738 Mara-HCN RANDALL Espadrille Flat - - Choose SZ/Color ca90c3c - gravityxdance.com