Musk Dodges Trade War, Builds Tesla Factory In China
Elon Musk kicked off the construction of Tesla's new $2 billion "Gigafactory" in China on Mondat.
He says it will be ready this summer.
According to Business INsider, A factory on Chinese soil may help Musk dodge tariffs imposed by China as part of Donald Trump's trade war.
Tesla said in October it was accelerating construction because tariffs as high as 40% were making it uncompetitive in China.
A Chinese base would shelter Tesla against potential future tariff hikes.