ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print
Companies

Tesla's big tax bill: China to collect $320m from Shanghai plant

Elon Musk must return Gigafactory site to city if unable to pay starting in 2023

Tesla will produce 150,000 cars in the first trial production phase at its Shanghai factory.   © Reuters

NEW YORK -- Tesla is required to contribute roughly $323 million in annual Chinese taxes starting at the end of 2023 as part of the company's lease agreement with the Shanghai municipal government.

The company is also committed to invest approximately $2.04 billion (14.08 billion yuan) into Gigafactory Shanghai, its first Chinese manufacturing plant, in the next five years, according to Tesla's SEC fillings submitted Monday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more