Shanghai to speed up efforts to cancel foreign investment curbs in auto making

Shanghai to speed up efforts to cancel foreign investment curbs in auto making
By Reuters
Share this articleComments
Share this articleClose Button

SHANGHAI (Reuters) - Shanghai will accelerate efforts to cancel restrictions on foreign investment in the auto manufacturing sector, a government official said on Wednesday, a day after Tesla said it would build an auto plant in the city.

Huang Ou, the deputy director of Shanghai Commission of Economy and Information Technology, told reporters at a press conference that the government was also still working on how it could support the Tesla project.

Tesla Inc Chief Executive Officer Elon Musk on Tuesday landed a deal with Chinese authorities to build a new and wholly-owned auto plant in Shanghai, its first factory outside the United States, that would double the size of the electric car maker's global manufacturing.

(Reporting by David Stanway; Writing by Brenda Goh; Editing by Himani Sarkar)

Share this articleComments

You might also like