Elon Musk Says Tesla Hasn’t Signed A Deal For Factory In China

JUN 29 2016 BY ERIC LOVEDAY 5

Elon Musk Denies Claims That Tesla Signed A Deal For A Factory In China

Elon Musk Denies Claims That Tesla Signed A Deal For A Factory In China

Tesla Model X In China

Tesla Model X In China

Conflicting reports from Reuters and Bloomberg have been cleared up by a Tweet from Tesla CEO Elon Musk.

Recently, Bloomberg reported the following:

“Jinqiao Group, a Shanghai government-owned company, has signed a non-binding memorandum of understanding with Tesla on building its production facilities in the municipality, said the person, who asked not to be identified because the negotiations are private. Each party may invest about 30 billion yuan ($4.5 billion) in the partnership, with Jinqiao putting up land for most of its share.”

That report was followed by a Reuters article stating the contrary:

“Shanghai Jinqiao Export Processing Zone Development Co said its parent company Jinqiao Group had not signed an agreement of any kind with the U.S. automaker, in response to a Bloomberg report that the two sides had signed a memorandum of understanding.”

Tesla CEO Elon Musk took to Twitter to clear up the confusion by simply stating “We haven’t signed anything for a factory in China.”

Tesla has been actively seeking a site for a factory in China for several years now, but no firm/official decisions have been made at this point in time.

Categories: China, Tesla

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5 Comments on "Elon Musk Says Tesla Hasn’t Signed A Deal For Factory In China"

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Elon Musk tweeted:

“We haven’t signed anything for a factory in China.”

Okay, but that’s a rather specific denial, innit? It’s the sort of denial someone makes when they don’t want to reveal to the public that they’re in negotiations for something, but haven’t actually signed anything yet.

Which American State Department negotiator was it who said “Nothing is agreed to until everything is agreed to”? Maybe it’s like that.

Well he’s just denying that “anything” has been signed. It doesn’t mean that something will not be signed in two weeks time or two months time time … Twitter game.

Or two days, or even — to be snarky — two minutes after he sent that tweet.

he’s not usually that cheeky, he gets too excited when people discover his plans, it would be phrased differently like “We’re not speaking to that now” or “More to come on that topic soon”

Tesla can’t afford a factory in China so it’s unlikely they have signed anything.