PALO ALTO, U.S. -- Tesla has chosen China for the location of its second vehicle assembly plant, gaining a foothold in the world's largest electric car market in a bullish expansion strategy that masks the company's precarious finances.
The U.S. electric car maker will soon announce the site of the Chinese plant, CEO Elon Musk said on a conference call Wednesday. Tesla's existing vehicle assembly plant is in Fremont, California. While batteries and vehicles are produced at different locations in the U.S., the Chinese site is slated to do both. A battery "Gigafactory" akin to the one Tesla launched in the U.S. state of Nevada will be set up alongside the assembly plant, Musk said.