TESLA LOOKS TO BUILD FIRST FACTORY OUTSIDE US

Tesla says it has signed an agreement for land in Shanghai, where it will build its first factory outside the United States. China is the biggest global electric-vehicle market and Tesla’s second-largest after the U.S. Local production would eliminate risks from tariffs and other import controls. Tesla joins global automakers including General Motors Co., Volkswagen AG and Nissan Motor Corp. that are pouring billions of dollars into manufacturing electric vehicles in China.