July 10, 2018 / 1:21 PM / 7 months ago

Shanghai government says Tesla to open plant in the city

FILE PHOTO: A woman sits in a Tesla Model 3 car during a media preview at the Auto China 2018 motor show in Beijing, China April 25, 2018. REUTERS/Jason Lee/File Photo

SHANGHAI (Reuters) - Tesla Inc (TSLA.O) on Tuesday signed a memorandum of understanding with the Shanghai government that includes plans to build a plant in the Chinese city with an annual capacity of 500,000 cars, the Shanghai government said.

The Shanghai government made the announcement on its official WeChat account which showed a picture of Tesla Chief Executive Elon Musk shaking hands with Shanghai Mayor Ying Yong.

Reporting by Brenda Goh. Editing by Jane Merriman

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