Tesla To Establish Research & Development Facility In China
Though Tesla may not have a factory in China for some time, the automaker will initiate a new company in the country in the interim.
When the lion’s share of Tesla’s recent finance news culminated in Q3 regarding the Model 3’s bottleneck issues and current financials, CEO Elon Musk made it more clear that the automaker won’t partake in any heavy spending toward Chinese operations until 2019. This moves the company’s goal of establishing an automotive/battery production facility back to at least 2020.
In the meantime, a government filing points to a research and development firm in China in the near future.
China’s new ‘National Enterprise Credit Information Publicity System’ allows for the country to track and release company information on a public level for increased transparency. Gasgoo, a Chinese auto parts trading outfit, utilized the system to discover that the Silicon Valley electric automaker has, in fact, registered Tesla (Beijing) New Energy R&D Co. Ltd.
The paperwork was filed by Tesla Hong Kong, and apparently, Xiaotong Zhu, Tesla China General Manager, will be the new company’s legal representative. Shareholder, Tesla Motors (Hong Kong) Co. Ltd. has already invested in 13 area companies, which are primarily sales outlets. Gasgoo’s report includes:
“The information from the department website shows that the new company’s business covers the research and development of electric vehicles (EV) and EV’s auto parts, battery, energy storage device, photovoltaic product technology and information technology. The business scope also includes the transfer and permission of R&D achievements, technology service, technology consulting, technology supporting, the import and export of technology and goods.
Its business scope indicates Tesla puts great emphasis on technology research and development in China. Auto industry analysts said since the American electric vehicle producer has attached greater importance to China auto market, it is possible for the company to conduct local research and development work.”