Shanghai is front runner for Tesla production base in China

Beijing

SHANGHAI has emerged as the front runner to become the production base for Tesla Motors in China in an investment that may be valued at about US$9 billion, according to a person with knowledge of the matter.

Jinqiao Group, a Shanghai government-owned company, has signed a non-binding memorandum of understanding with Tesla on building its production facilities in the municipality, said the person, who asked not to be identified because the negotiations are private.