Tesla

Tesla is asking several Chinese supply chain companies to build factories in Mexico in order to replicate a Giga Shanghai and its supply chain system there, according to local media.

From January to May, Tesla sold 382,859 China-made vehicles, up 77.37 percent from 215,851 units in the same period last year.

Musk arrived in Shanghai from Beijing yesterday evening and toured the Tesla Shanghai factory overnight.

Musk met with China's Minister of Industry and Information Technology and Minister of Commerce today. He met with China's foreign minister after arriving in Beijing yesterday and was seen meeting with CATL's chairman.

Tesla opposes decoupling and is willing to continue to expand its business in China and share in China's development opportunities, Musk said.

China has always been welcoming visits by business people from various countries, including Mr. Musk, to better understand China and promote mutually beneficial cooperation, the Chinese Foreign Ministry said.

Musk is expected to meet with senior Chinese officials and tour Tesla's Shanghai factory, according to Reuters.

"That was many years ago. Their cars are highly competitive these days," Musk said.

Both models are eligible for a C$5,000 federal incentive in Canada.

The potential expansion would give the Shanghai factory the capacity to produce 1.75 million powertrains per year, up from the current 1.25 million, according to Reuters.