The American electrical vehicle manufacturer, Tesla, has opened up its first ever wholly-owned assembly plant in Shanghai, China, after the Chinese government lifted restrictions on foreign companies producing vehicles in China.
The American firm, owned by South African expatriate, Elon Musk, opened the assembly plant in July, after China agreed to lift regulations on global automakers as a result with China’s ongoing trade war with US President, Donald Trump.
Tesla’s Shainghai plant is the company’s first-ever plant overseas.
By prompting Beijing to lessen control of foreign companies producing locally and slash tariffs on vehicle imports, Trump has inadvertently helped to level the playing field in the Chinese market for global automakers.
Trump and Chinese President Xi Jinping have agreed to a 90-day truce in their ongoing trade war at the Group of 20 summit in Argentina, recently.
