Tesla Shanghai Gigafactory receives tax incentives, land rights clarified

Tesla's Shanghai Gigafactory has received a 15% preferential corporate income tax rate granted by the Shanghai Municipal Government. In exchange, Tesla needs to meet certain investment and tax targets. Tesla signed a land use rights agreement with the Shanghai Municipal Government and obtained land use rights in the Lingang area of ​​Pudong. It plans to invest approximately RMB 1.408 billion to build the Shanghai Gigafactory.