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carrying out the model way.
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Tesla has gotten the green light to sell its model wise sports utility vehicle in China.
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The world's most valuable automaker has been ramping up manufacturing capacity at its $2 billion Shanghai Gigafactory.
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It already makes and sells the model three sedan on the mainland 13,000 cars in October alone.
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The Gigafactory is central to Tesla's global growth strategy.
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China is not only the world's largest auto market, it also has a government eager to boost electric vehicles.
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As part of its war on pollution, Beijing offers hefty subsidies for electric vehicles.
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It's also been expanding its nationwide network of charging points.
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Tesla's big China push is not just about vehicles.
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It's also about making more car parts locally.
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Last week, Reuters learned that the California based automaker plans to invest $6.4 million in a new Shanghai factory to make Chargers.
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Led by billionaire CEO Elon Musk, Tesla has more than weathered the economic downturn brought on by the coronavirus pandemic.
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Its stock is up more than 400% in 2020.
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Investor enthusiasm has only gotten stronger since November 16th, when news broke that the company plans to join the S and P 500 index in December.