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Tesla forms r&d subsidiary in Beijing
Automotive News China | 2017/12/1

Tesla Inc. established a subsidiary in Beijing to conduct r&d for vehicles slated for China.

The $2 million (13 million yuan) subsidiary was incorporated on Oct. 18, according to the State Administration for Industry and Commerce.

Tesla will use the center to develop electric vehicle, batteries, solar cells and information technology, according to the website. 

China is Tesla¡¯s second-largest market by revenue, after the United States. Last year the company recorded sales of $1.1 billion in China, which amounted to 15 percent of global revenue. 

Tesla is in advanced talks with Shanghai¡¯s municipal government to assemble vehicles in the city. 

During a recent earnings call, Tesla CEO Elon Musk told analysts that the company is about three years away from launching production in China.

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