Shanghai to open up auto sector to foreign investment

The developments comes a day after Tesla announced that it would build an auto plant in Shanghai that would double its global auto manufacturing capacity.

On Wednesday, Huang Ou, the deputy director of Shanghai Commission of Economy and Information Technology disclosed, Shanghai will accelerate efforts to open up foreign investment in the auto manufacturing sector.

The development comes in the wake of Tesla stating it would build an auto plant in Shanghai.

At a press conference, Huang Ou stated the government of Shanghai was also considering ways to support the Tesla project.

As reported by us yesterday, Elon Musk, Tesla’s CEO landed a deal with Chinese authorities to build a 100% Tesla owned auto factory, that would double the size of its global manufacturing capacity, in Shanghai in what is its first factory outside the U.S.

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Categories: Creativity, Economy & Finance, Entrepreneurship, HR & Organization, Regulations & Legal, Strategy, Sustainability

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