Elon Musk isn’t keen on investors dragging girlfriend into tweet lawsuit

Elon Musk and Grimes

Report Elon Musk Wants to Keep Girlfriend Grimes Out of Tesla Lawsuit Angela Weiss Getty4 Jan 2019

Domestic production would help shield Tesla against import duties as the US and China find ways to wriggle out of the tariff quandary.

The company's Gigafactory, an electric vehicle manufacturing facility, has been under construction in Shanghai, which was the first Gigafactory outside the United States, after the Shanghai government and Tesla signed a cooperative agreement in July 2018.

Elon Musk's lawyers are fighting efforts by lawyers for investors suing Tesla to bring his girlfriend into the case.

The Securities and Exchange Commission, which ended up fining Musk and Tesla $20 million each over the August 7 tweet, as well as removing Musk as chairman and forcing the addition of two independent directors to the board, found in a probe that Musk's relationship with Grimes played a role in setting the price he said he would ask for Tesla.

The carmaker, which now imports US-made vehicles to sell in China, is building the plant in an auto market that is set to contract this year for the first time in decades, though so-called new-energy vehicle (NEV) sales have been strong. The lower tariff will last until the end of March pending trade talks.

Analysts have said production in China would allow Tesla to avoid such tariffs, which already have caused a spike in the price of the cars that Tesla now imports to the Chinese market.

A local plant will help Tesla lower prices in the market to compete with a new generation of local rivals including Nio, Byton and XPeng Motors. In October, it said it paid about US$140 million to secure more than 81ha of land for the planned Gigafactory 3.

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"Affordable cars must be made on same continent as customers", Musk said in another tweet.

The so-called Gigafactory would also be China's first wholly foreign-owned auto plant, a reflection of China's broader shift to open up its vehicle market even amid the whipsawing trade war.

"With the construction of the Shanghai factory, the faster the better (for Tesla)", Kang said.

He has further detailed, that the electric vehicle maker is aiming to finish initial construction this summer, and will start Model 3 production by the end of year.

Electric auto maker Tesla CEO Elon Musk on Monday said he was set to lay the foundation of a Tesla Gigafactory in China that is expected to produce 500,000 electric vehicles per year - doubling the production capacity of Tesla.

The new Gigafactory will produce Tesla Model 3 and the produce will be used to cater to Greater China region demands.

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