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Electric cars in China

Tesla to produce 500,000 cars a year in Shanghai

Wholly owned factory reduces concerns about technology leaks

Tesla's Model S electric sedan. The American automaker plans to open a Shanghai plant capable of turning out 500,000 vehicles annually.

SHANGHAI -- Tesla will build its first non-U.S. auto factory in Shanghai, with plans to turn out up to 500,000 electric vehicles per year for sale in the world's largest car market.

The American electric carmaker has signed a memorandum of understanding with Shanghai to build a development and production hub on the outskirts of the city, the municipal government announced Tuesday.

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