Tesla signs $9B agreement to build factory in China

mashable.com

39 points·sua_3000··8 comments

This is blogspam and a misleading title, the report is actually from Bloomberg:

http://www.bloomberg.com/news/articles/2016-06-20/shanghai-s...

It is anonymously sourced, but knowing it is from Bloomberg is much different than it being from Mashable:

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

Blogspam and a misleading title are bad enough, but the original story doesn't look substantive either. Generally HN can afford to ignore rumors and wait till the thing actually happens. So rather than change the URL as we normally would, we're just going to downweight this post.

Elon has spoken: https://twitter.com/elonmusk/status/747298731691696130

"We haven't signed anything for a factory in China"

Rather short article. I am an absolute layman when it comes to legal matters of this kind, but this struck me as odd:

"Tesla Motors has reportedly signed a non-binding agreement with Chinese government-owned company Jinqiao Group to construct a Tesla production plant in the city of Shanghai."

How can an agreement to build a factory be non binding?

I imagine it's just that details are yet to be finalised so both parties can back out if something comes up.

> How can an agreement to build a factory be non binding?

If there is a clause that one or more parties can back out. This is pretty common, buying an option could be considered a non-binding agreement.

This has been denied by Jinqiao recently.

http://stock.jrj.com.cn/2016/06/27104521116602.shtml

TSLA: Not for the faint of heart.

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