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Reuters
The head of Tesla in China said the company s research and development center will be running within the year.
The site will design Tesla s new $25,000 autonomous electric car.
The center is part of Elon Musk s plans to capitalize on China s lucrative EV market.
The head of Tesla China said the company s research and development center will be running by the end of 2021.
The site will have over 20 labs and will be used to produce Tesla s next electric vehicle a $25,000 electric car Tesla China President Tom Zhu told Xinhua Net in an interview.
The smaller price tag is a significant drop from Tesla s cheapest car, the Model 3, which costs $35,000. The price will be made possible by Tesla s new battery-cell manufacturing efforts detailed during Battery Day in September.