On July 10th, Beijing time, Tesla CEO Elon Musk arrived in Shanghai and signed a pure electric vehicle project investment agreement with Shanghai Lingang Administrative Committee and Lingang Group. Tesla will In the Lingang area, it is a wholly-owned construction of the Tesla Super Factory (Gigafactory 3) that integrates R&D, manufacturing and sales functions. The plant is the first overseas plant outside Tesla USA and will double Tesla's global manufacturing scale. Huang Wei told reporters that the Shanghai government has participated in and supported the Tesla pure electric vehicle project, which will become the largest foreign investment project in Shanghai. “The next step is for the city government to do support work and get the project into operation as soon as possible. According to the national plan, we will speed up the removal of foreign ownership restrictions on the automobile manufacturing industry.†Tesla announced that it would increase the price of its models in China. It is to offset the tariff imposed by the Chinese government on US imports under the Sino-US trade war. Officials and experts in the automotive industry expect that the construction of the Tesla Shanghai plant will be a significant amount. Suppose a car assembly plant that is only half the size of Tesla's Shanghai plant usually costs $1 billion to build. "Financial Network" quoted the person familiar with the project revealed that the specific location of Tesla's Shanghai factory has not yet been decided, and construction will start sooner next year. In addition, the Shanghai Municipal Government and Tesla have signed a memorandum, and Tesla (Shanghai) Co., Ltd. and Tesla (Shanghai) Electric Vehicle R&D Innovation Center have also been unveiled simultaneously. The Shanghai government said in a statement on July 10 that Tesla not only invested in establishing a factory in Shanghai, but also invested in research and development. The Shanghai government expressed its welcome.
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On July 11, Beijing time, at the press conference of the Shanghai Municipal Government, Huang Wei, deputy director of the Shanghai Economic and Information Committee, said that Shanghai will speed up the elimination of restrictions on foreign-invested automobile manufacturing and encourage foreign investors to invest in advanced manufacturing. 
