Shares of Tesla are popping, up more than 2%, after the company announced it is exploring a car factory in China.
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Tesla is rallying after announcing it's exploring a factory in China (TSLA)
Rumors were circulating after Musk visited the country and met with high-ranking officials, but the news was confirmed Thursday afternoon.
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Rumors have been circulating ever since Musk visited the country and met with high-ranking officials at the end of April, but the news was confirmed Thursday afternoon. Tesla shares jumped shortly after the confirmation.
The company had previously announced plans to increase car production to 500,000 vehicles a year. That's something a Chinese plant would help accomplish.
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