Tesla is gaining around after securing a Shanghai site for its first overseas Gigafactory (TSLA)
|10/17/2018||Posted by BusinessMediaguide.Com under General World News||
- Tesla announced Wednesday that it has secured an 860,000 square meter plot of land in Shanghai, China, to build its first overseas Gigafactory.
- In July, the car maker signed a deal with Shanghai authorities to open a plant in the Chinese city with an annual capacity of 500,000 cars, and said it would raise $2 billion to fund the construction, Reuters reported.
- Shares are gaining ground on the news, up about 1.5%.
- Watch Tesla trade in real time here.