Tesla reaches agreement with Shanghai to explore production: Bloomberg

Reuters News
Posted: Jun 22, 2017 6:30 AM

(Reuters) - U.S. electric-car maker Tesla Inc has reached a preliminary agreement with Shanghai to explore production in the Chinese city, Bloomberg reported on Thursday, citing people familiar with the matter. (https://bloom.bg/2twAd6z)

Tesla's revenue from China more than tripled to over $1 billion last year, according to its annual report.

The company did not immediately respond to a request for comment.

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Tesla's shares were slightly higher at $378.50 in premarket trading.

(Reporting by Narottam Medhora in Bengaluru; Editing by Sai Sachin Ravikumar)