Subscribe
China

Tesla to pay China $323 million a year in taxes for factory site

Elon Musk in China
Elon Musk's previous visits to China helped Tesla get preferential bank loans and swift approvals for construction and manufacturing. (BLOOMBERG)
AW
By:
ANGUS WHITLEY
B
By:
Bloomberg
|
July 30, 2019 10:33 AM

Tesla Inc. agreed to pay China 2.23 billion yuan ($323 million) in tax every year as part of a deal with local authorities to build an electric-vehicle factory on the outskirts of Shanghai.

Featured Stories

Ford stockpiling parts, tells suppliers to keep shipping amid tariffs
Ford stockpiling parts, tells suppliers to keep shipping amid tariffs
10 federal policies that shaped the modern auto industry
10 federal policies that shaped the modern auto industry
From the Newsroom: Nissan’s leadership shake-up
From the Newsroom: Nissan’s leadership shake-up
In our opinion: Shareholders see Musk’s MAGA tilt leaving Tesla out
In our opinion: Shareholders see Musk’s MAGA tilt leaving Tesla out

Latest News

Mazda wins most awards on 2025 IIHS safety ranking
FTC loses one means of saving CARS Rule after U.S. appeals court rehearing deadline passes
Daily 5 report for March 14: For European automakers, the only certainty is tariff uncertainty
Live updates on tariffs: Ford stockpiles parts, tells suppliers to keep shipping
Staying current is easy with newsletters delivered straight to your inbox.

See More in China

CATL 2024 profit growth slowest in 6 years
Li Auto Q1 revenue target falls short of estimates as EV price war escalates
New-car sales edge up 1.2% through February
Vehicle shipments rise 13% in first 2 months behind EV demand
Staying current is easy with newsletters delivered straight to your inbox.