Tencent’s Pony Ma says he’s watching whether the trade war will turn into a tech war

Ma Huateng, the chairman and chief executive officer of Tencent Holdings who is also known as Pony Ma, attends a news conference in Hong Kong on Thursday, March 21, 2019. Pony Ma, the head of Chinese technology giant Tencent, is watching whether his country’s trade dispute with the U.S. will turn into a tech war, according to local news website 36kr. We are also constantly watching whether the trade war will turn into a tech war, ” Ma said Tuesday, according to a CNBC translation of his Chinese


Ma Huateng, the chairman and chief executive officer of Tencent Holdings who is also known as Pony Ma, attends a news conference in Hong Kong on Thursday, March 21, 2019. Pony Ma, the head of Chinese technology giant Tencent, is watching whether his country’s trade dispute with the U.S. will turn into a tech war, according to local news website 36kr. We are also constantly watching whether the trade war will turn into a tech war, ” Ma said Tuesday, according to a CNBC translation of his Chinese
Tencent’s Pony Ma says he’s watching whether the trade war will turn into a tech war Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: evelyn cheng
Keywords: news, cnbc, companies, tencent, ma, pony, chinese, war, china, worth, wechat, turn, tencents, tech, watching, trade, hes


Tencent's Pony Ma says he's watching whether the trade war will turn into a tech war

Ma Huateng, the chairman and chief executive officer of Tencent Holdings who is also known as Pony Ma, attends a news conference in Hong Kong on Thursday, March 21, 2019.

Pony Ma, the head of Chinese technology giant Tencent, is watching whether his country’s trade dispute with the U.S. will turn into a tech war, according to local news website 36kr.

“Recently, the cases of ZTE and Huawei have intensified. We are also constantly watching whether the trade war will turn into a tech war, ” Ma said Tuesday, according to a CNBC translation of his Chinese remarks as published in 36kr.

“As a result, if we don’t continue to work hard on basic research and key technologies, our digital economy will just be a high-rise built on sand, difficult to sustain, not to mention the transformation to new from old drivers of growth or the promotion of high-quality development,” he said. He also noted that, since China has reached the front line of development, “there is less and less room for just taking ideas.”

Trade tensions between the U.S. and China intensified this month. U.S. President Donald Trump raised tariffs on $200 billion worth of Chinese goods to 25% from 10% on May 10, to which Beijing responded a few days later with plans to impose tariffs on $60 billion worth of U.S. goods on June 1.

Trump has made reducing the U.S. trade deficit with China the center of the dispute, but the disagreement also covers U.S. complaints about requirements of forced technology transfer and lack of intellectual property protection. Last week, the U.S. Department of Commerce added Huawei Technologies and its affiliates to the Bureau of Industry and Security Entity List that will make it more difficult for U.S. companies to conduct business with the Chinese telecom giant.

Tencent runs China’s ubiquitous messaging app WeChat and its WeChat mobile pay service, in addition to being a giant in gaming. A company representative was not immediately available for comment on the 36kr report.

Ma, who also goes by Ma Huateng, was giving unscheduled remarks at Tencent’s Global Digital Ecosystem Summit in Kunming, China. Forbes said in March that he is the richest person in China.

Read the full 36kr report here.


Company: cnbc, Activity: cnbc, Date: 2019-05-22  Authors: evelyn cheng
Keywords: news, cnbc, companies, tencent, ma, pony, chinese, war, china, worth, wechat, turn, tencents, tech, watching, trade, hes


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China’s new social media craze: Paying to be given compliments online

One group administrator who spoke to CNBC said they offer a service where you can invite another person into a group, and that individual will be given custom-made compliments. The administrator, who asked to remain anonymous, said they charge 15 yuan for three minutes or 25 yuan for five minutes of praise in the WeChat group. You are then invited to one of the groups on WeChat alongside the other person you have nominated. CNBC found a number of postings on Chinese social networking site Douban


One group administrator who spoke to CNBC said they offer a service where you can invite another person into a group, and that individual will be given custom-made compliments. The administrator, who asked to remain anonymous, said they charge 15 yuan for three minutes or 25 yuan for five minutes of praise in the WeChat group. You are then invited to one of the groups on WeChat alongside the other person you have nominated. CNBC found a number of postings on Chinese social networking site Douban
China’s new social media craze: Paying to be given compliments online Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: arjun kharpal, justin chin, bloomberg, getty images, -a kuakuaqun user, encouraging a cnbc reporter to enjoy his time in a
Keywords: news, cnbc, companies, yuan, number, online, paying, social, group, craze, groups, media, praise, chinas, person, given, wechat, administrator, compliments, spare


China's new social media craze: Paying to be given compliments online

“This is awesome! Now you have more spare time. Take this opportunity to enjoy your ‘me time.’ One can be very happy by himself. And you have us here!”

There appears to be varying business models, however. One group administrator who spoke to CNBC said they offer a service where you can invite another person into a group, and that individual will be given custom-made compliments. It could be a friend or partner, for example.

The administrator, who asked to remain anonymous, said they charge 15 yuan for three minutes or 25 yuan for five minutes of praise in the WeChat group. You can send in additional information such as details of your relationship with a person and their likes and dislikes. You are then invited to one of the groups on WeChat alongside the other person you have nominated. And then the compliments begin.

The administrator said he runs the side business in his spare time with friends.

There are also free groups. CNBC found a number of postings on Chinese social networking site Douban for praise groups. On one of the posts, a number was listed. CNBC added that number and the person — known by their WeChat alias “Abelard” — then pulled us into the free praise group they run.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: arjun kharpal, justin chin, bloomberg, getty images, -a kuakuaqun user, encouraging a cnbc reporter to enjoy his time in a
Keywords: news, cnbc, companies, yuan, number, online, paying, social, group, craze, groups, media, praise, chinas, person, given, wechat, administrator, compliments, spare


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China’s new social media craze: Paying to be given compliments online

One group administrator who spoke to CNBC said they offer a service where you can invite another person into a group, and that individual will be given custom-made compliments. The administrator, who asked to remain anonymous, said they charge 15 yuan for three minutes or 25 yuan for five minutes of praise in the WeChat group. You are then invited to one of the groups on WeChat alongside the other person you have nominated. CNBC found a number of postings on Chinese social networking site Douban


One group administrator who spoke to CNBC said they offer a service where you can invite another person into a group, and that individual will be given custom-made compliments. The administrator, who asked to remain anonymous, said they charge 15 yuan for three minutes or 25 yuan for five minutes of praise in the WeChat group. You are then invited to one of the groups on WeChat alongside the other person you have nominated. CNBC found a number of postings on Chinese social networking site Douban
China’s new social media craze: Paying to be given compliments online Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: arjun kharpal, justin chin, bloomberg, getty images, -a kuakuaqun user, encouraging a cnbc reporter to enjoy his time in a
Keywords: news, cnbc, companies, yuan, number, online, paying, social, group, craze, groups, media, praise, chinas, person, given, wechat, administrator, compliments, spare


China's new social media craze: Paying to be given compliments online

“This is awesome! Now you have more spare time. Take this opportunity to enjoy your ‘me time.’ One can be very happy by himself. And you have us here!”

There appears to be varying business models, however. One group administrator who spoke to CNBC said they offer a service where you can invite another person into a group, and that individual will be given custom-made compliments. It could be a friend or partner, for example.

The administrator, who asked to remain anonymous, said they charge 15 yuan for three minutes or 25 yuan for five minutes of praise in the WeChat group. You can send in additional information such as details of your relationship with a person and their likes and dislikes. You are then invited to one of the groups on WeChat alongside the other person you have nominated. And then the compliments begin.

The administrator said he runs the side business in his spare time with friends.

There are also free groups. CNBC found a number of postings on Chinese social networking site Douban for praise groups. On one of the posts, a number was listed. CNBC added that number and the person — known by their WeChat alias “Abelard” — then pulled us into the free praise group they run.


Company: cnbc, Activity: cnbc, Date: 2019-03-19  Authors: arjun kharpal, justin chin, bloomberg, getty images, -a kuakuaqun user, encouraging a cnbc reporter to enjoy his time in a
Keywords: news, cnbc, companies, yuan, number, online, paying, social, group, craze, groups, media, praise, chinas, person, given, wechat, administrator, compliments, spare


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Facebook wants to copy WeChat Pay with Facebook Coin payments

Facebook is reportedly looking to push into the payments space with its own cryptocurrency. If successful, such a move could replicate China’s massively popular WeChat, but striking gold could be a tall order for the social networking giant. WhatsApp was acquired by Facebook in 2014 in what was the company’s largest acquisition ever. Since then, it has largely focused on messaging and a few social features. It’s the largest messaging service in the world with 1.5 billion monthly users.


Facebook is reportedly looking to push into the payments space with its own cryptocurrency. If successful, such a move could replicate China’s massively popular WeChat, but striking gold could be a tall order for the social networking giant. WhatsApp was acquired by Facebook in 2014 in what was the company’s largest acquisition ever. Since then, it has largely focused on messaging and a few social features. It’s the largest messaging service in the world with 1.5 billion monthly users.
Facebook wants to copy WeChat Pay with Facebook Coin payments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: arjun kharpal, getty images news, getty images
Keywords: news, cnbc, companies, copy, world, wechat, facebook, reportedly, coin, largest, according, pay, social, users, payments, wants, billion, messaging


Facebook wants to copy WeChat Pay with Facebook Coin payments

Facebook is reportedly looking to push into the payments space with its own cryptocurrency. If successful, such a move could replicate China’s massively popular WeChat, but striking gold could be a tall order for the social networking giant.

The U.S. firm is developing its own digital currency, known as the Facebook Coin, which would be pegged to the U.S. dollar and allow users to transfer money through Facebook-owned messaging application WhatsApp, according to Bloomberg.

While Facebook is reportedly going to focus on the remittances market in India first, analysts said that it could be a precursor to the company stepping up its offering in payments, a move which could be a $19 billion revenue opportunity, according to Barclays.

WhatsApp was acquired by Facebook in 2014 in what was the company’s largest acquisition ever. Since then, it has largely focused on messaging and a few social features. It’s the largest messaging service in the world with 1.5 billion monthly users.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: arjun kharpal, getty images news, getty images
Keywords: news, cnbc, companies, copy, world, wechat, facebook, reportedly, coin, largest, according, pay, social, users, payments, wants, billion, messaging


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WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen


The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen
WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


WeChat's most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

In its findings, WeChatscope said there were four official reasons that were typically offered for a post’s removal: the original publisher deleted the post, WeChat removed it because it was found to violate a law, WeChat removed it because it was flagged by other users as breaking platform regulations, or WeChat blocked the original publisher for regularly breaking community rules.

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent.

“Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.”

In a follow up conversation over email with CNBC, a representative for the WeChatscope team said the program had yet to develop a “solid argument on self-censorship” as its research was mainly focused on systematic censorship.

“We detected articles related to certain highly censored topics which were also collectively removed by public account users. For instance, the issue of (the) US-China trade war,” they said. “In some cases, we would be skeptical to those self-removal cases that might be under pressure of overarching political censorship. However, we have to examine on a case by case basis.”

When asked about the possibility of posts being removed by their authors due to an error, WeChatscope acknowledged that it had “observed news articles that were collectively removed by authors because of misinformation.”


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


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WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen


The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent. “Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.” “We detected articles related to certain highly cen
WeChat’s most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


WeChat's most censored topics in 2018 include US-China trade war, Huawei CFO arrest: Report

In its findings, WeChatscope said there were four official reasons that were typically offered for a post’s removal: the original publisher deleted the post, WeChat removed it because it was found to violate a law, WeChat removed it because it was flagged by other users as breaking platform regulations, or WeChat blocked the original publisher for regularly breaking community rules.

The study found that 8,092 of the approximately 11, 000 articles flagged as censored fell under the category of posts that were removed by their authors — accounting for approximately 74 percent.

“Self-censorship is a common practice among internet users in China as online speech can easily bring them trouble,” Wang and Fan said in the report. “Users will often remove their own posts if they receive warning from senior colleagues or employers.”

In a follow up conversation over email with CNBC, a representative for the WeChatscope team said the program had yet to develop a “solid argument on self-censorship” as its research was mainly focused on systematic censorship.

“We detected articles related to certain highly censored topics which were also collectively removed by public account users. For instance, the issue of (the) US-China trade war,” they said. “In some cases, we would be skeptical to those self-removal cases that might be under pressure of overarching political censorship. However, we have to examine on a case by case basis.”

When asked about the possibility of posts being removed by their authors due to an error, WeChatscope acknowledged that it had “observed news articles that were collectively removed by authors because of misinformation.”


Company: cnbc, Activity: cnbc, Date: 2019-02-15  Authors: eustance huang, omar marques, sopa images, lightrocket, getty images
Keywords: news, cnbc, companies, authors, huawei, censored, articles, original, wechat, uschina, include, users, trade, wechats, posts, wechatscope, flagged, removed, report, cfo, publisher, war, topics


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Everything you need to know about WeChat — China’s billion-user messaging app

WeChat is China’s most popular messaging app with a monthly user base of more than 1 billion people. But it’s unlikely that you would have used it if you live outside China. It is owned by Tencent, one of Asia’s largest companies by market cap. While it started out as a messaging service, it has transformed into an app where you can do everything from payments to hailing a ride, or even booking flights. Here’s a rundown of what WeChat is and how it works.


WeChat is China’s most popular messaging app with a monthly user base of more than 1 billion people. But it’s unlikely that you would have used it if you live outside China. It is owned by Tencent, one of Asia’s largest companies by market cap. While it started out as a messaging service, it has transformed into an app where you can do everything from payments to hailing a ride, or even booking flights. Here’s a rundown of what WeChat is and how it works.
Everything you need to know about WeChat — China’s billion-user messaging app Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: arjun kharpal, nurphoto, getty images, zhang peng, lightrocket
Keywords: news, cnbc, companies, messaging, whatsappheres, user, know, app, tencent, wechat, need, works, used, billionuser, unlikely, transformed, chinas


Everything you need to know about WeChat — China's billion-user messaging app

WeChat is China’s most popular messaging app with a monthly user base of more than 1 billion people.

But it’s unlikely that you would have used it if you live outside China. It is owned by Tencent, one of Asia’s largest companies by market cap. While it started out as a messaging service, it has transformed into an app where you can do everything from payments to hailing a ride, or even booking flights.

It’s a very different prospect to the likes of Facebook’s Messenger or WhatsApp.

Here’s a rundown of what WeChat is and how it works.


Company: cnbc, Activity: cnbc, Date: 2019-02-04  Authors: arjun kharpal, nurphoto, getty images, zhang peng, lightrocket
Keywords: news, cnbc, companies, messaging, whatsappheres, user, know, app, tencent, wechat, need, works, used, billionuser, unlikely, transformed, chinas


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Apple may be headed for ‘serious ramifications’ in China after Tencent’s latest update to WeChat

Apple did not immediately respond to a CNBC request for comment on this story. Known in China as Weixin, the mobile app is also used by many overseas Chinese and foreigners. It has evolved from recorded voice messages to a means of paying for store purchases and utility bills. Users can also access third-party services such as SF Express — a delivery company similar to FedEx — through WeChat mini programs. “Some even say China’s operating system is WeChat, not (Google’s) Android or (Apple’s) iOS


Apple did not immediately respond to a CNBC request for comment on this story. Known in China as Weixin, the mobile app is also used by many overseas Chinese and foreigners. It has evolved from recorded voice messages to a means of paying for store purchases and utility bills. Users can also access third-party services such as SF Express — a delivery company similar to FedEx — through WeChat mini programs. “Some even say China’s operating system is WeChat, not (Google’s) Android or (Apple’s) iOS
Apple may be headed for ‘serious ramifications’ in China after Tencent’s latest update to WeChat Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: eustance huang, getty images news, getty images
Keywords: news, cnbc, companies, latest, wechat, mobile, apple, apples, users, research, store, ios, serious, ramifications, update, headed, tencents, china, operating, nguyen, hardware


Apple may be headed for 'serious ramifications' in China after Tencent's latest update to WeChat

“With WeChat moving towards solidifying the mini-programs position, there could be serious ramifications for Apple’s service business, which it has been focusing on to counter plateauing hardware sales,” TuanAnh Nguyen, an analyst at technology research firm Canalys, said in an email to CNBC.

“The advantage that WeChat mini-program brings is not only concentration of apps into one popular (platform), but it’s very enticing to developers, especially startups and (independent operations) who have limited resources, to focus on 1 single ‘app store,'” Nguyen said.

Apple did not immediately respond to a CNBC request for comment on this story.

Given their ubiquity across both Apple’s iOS and Google’s Android mobile operating systems, “superapps” such as WeChat have “made the Apple ecosystem lock-in much weaker” in China in comparison to other parts of the world, resulting in an erosion of the competitive advantage of the Cupertino-based tech giant’s hardware, he said.

WeChat has more than 1 billion monthly active users, according to Tencent. Known in China as Weixin, the mobile app is also used by many overseas Chinese and foreigners. It has evolved from recorded voice messages to a means of paying for store purchases and utility bills. Users can also access third-party services such as SF Express — a delivery company similar to FedEx — through WeChat mini programs.

“WeChat is your Facebook, your credit card, your Uber, your Amazon altogether.” said Mengmeng Zhang, a Beijing-based analyst at Counterpoint Research. “Some even say China’s operating system is WeChat, not (Google’s) Android or (Apple’s) iOS.”


Company: cnbc, Activity: cnbc, Date: 2019-01-25  Authors: eustance huang, getty images news, getty images
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Millions of Chinese tourists are spurring the growth of mobile pay overseas

In just a few years, mobile payment has become so ingrained in the lives of Chinese people that they are driving stores in overseas tourist destinations to adopt the technology. Three-fourths of supermarkets and convenience stores in Singapore, Malaysia and Thailand now accept Chinese mobile payment, according to a Nielsen survey released Monday. Alipay co-issued the report, which covers 1,244 merchants and 2,806 Chinese residents surveyed in the fall of 2018. “Along with the increasingly person


In just a few years, mobile payment has become so ingrained in the lives of Chinese people that they are driving stores in overseas tourist destinations to adopt the technology. Three-fourths of supermarkets and convenience stores in Singapore, Malaysia and Thailand now accept Chinese mobile payment, according to a Nielsen survey released Monday. Alipay co-issued the report, which covers 1,244 merchants and 2,806 Chinese residents surveyed in the fall of 2018. “Along with the increasingly person
Millions of Chinese tourists are spurring the growth of mobile pay overseas Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: evelyn cheng
Keywords: news, cnbc, companies, merchants, mobile, payment, zhao, stores, spurring, growth, tourists, wechat, chinese, overseas, pay, alipay, millions, nielsen


Millions of Chinese tourists are spurring the growth of mobile pay overseas

In just a few years, mobile payment has become so ingrained in the lives of Chinese people that they are driving stores in overseas tourist destinations to adopt the technology.

Three-fourths of supermarkets and convenience stores in Singapore, Malaysia and Thailand now accept Chinese mobile payment, according to a Nielsen survey released Monday. Some 71 percent of duty-free stores and luxury stores in those countries also take the payment method.

The two dominant operators are Alipay, which is run by Alibaba-affiliate Ant Financial, and WeChat Pay, which is tied to Tencent’s ubiquitous Chinese messaging app, WeChat. Alipay co-issued the report, which covers 1,244 merchants and 2,806 Chinese residents surveyed in the fall of 2018.

“Along with the increasingly personalized and sophisticated demand of Chinese tourists, improving the global coverage of mobile payments is a long-term project (for merchants),” Andy Zhao, president of Nielsen China, said in a statement.

Usage rate of mobile payment by Chinese tourists


Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: evelyn cheng
Keywords: news, cnbc, companies, merchants, mobile, payment, zhao, stores, spurring, growth, tourists, wechat, chinese, overseas, pay, alipay, millions, nielsen


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Tesla’s China factory is set to begin production late next year, Shanghai government says

Tesla is on pace to begin production at its factory in China in the second half of next year, the Shanghai government said Wednesday. Land leveling is basically complete and construction is about to begin, with the factory expected to be put partially into operation in the second half of 2019, according to an official WeChat post from the government. The article described a visit by Shanghai Mayor Ying Yong and Vice Mayor Wu Qing. In mid-October, Tesla officially acquired an 864,885-square meter


Tesla is on pace to begin production at its factory in China in the second half of next year, the Shanghai government said Wednesday. Land leveling is basically complete and construction is about to begin, with the factory expected to be put partially into operation in the second half of 2019, according to an official WeChat post from the government. The article described a visit by Shanghai Mayor Ying Yong and Vice Mayor Wu Qing. In mid-October, Tesla officially acquired an 864,885-square meter
Tesla’s China factory is set to begin production late next year, Shanghai government says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: evelyn cheng, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, electric, costs, second, china, begin, wechat, mayor, late, half, production, official, shanghai, teslas, tesla, factory, set


Tesla's China factory is set to begin production late next year, Shanghai government says

Tesla is on pace to begin production at its factory in China in the second half of next year, the Shanghai government said Wednesday.

Land leveling is basically complete and construction is about to begin, with the factory expected to be put partially into operation in the second half of 2019, according to an official WeChat post from the government. The article described a visit by Shanghai Mayor Ying Yong and Vice Mayor Wu Qing.

Tesla did not immediately respond to an emailed request for comment.

In mid-October, Tesla officially acquired an 864,885-square meter plot in Shanghai’s Lingang area for the electric car maker’s first factory outside the U.S.

Elon Musk’s company has also launched an official WeChat account for hiring locals.

Producing in China, the world’s largest market for electric vehicles, would allow Tesla to reduce costs significantly. The company has said it is operating at a 55 percent to 60 percent cost disadvantage with a domestic peer due to ocean transport costs and tariffs.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: evelyn cheng, qilai shen, bloomberg, getty images
Keywords: news, cnbc, companies, electric, costs, second, china, begin, wechat, mayor, late, half, production, official, shanghai, teslas, tesla, factory, set


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