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The Wall Street Journal: Tesla moves toward opening first overseas factory in Shanghai

Tesla Inc. has moved closer to setting up its first overseas car plant by registering a company in Shanghai.

In a filing disclosed by China’s official business database Monday, Tesla’s TSLA, -1.30% Hong Kong division is identified as the sole owner of the new company—a crucial distinction that suggests that the electric-car maker plans to operate independently in China, without a joint-venture partner.

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The filing said a new company called Tesla Shanghai Co. Ltd. was established in the Pudong New District of Shanghai on May 10. The filing said the company would be capitalized at 100 million yuan ($15.8 million).

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