Telsa has confirmed its plans to build a manufacturing plant for its electric vehicles in Shanghai, so as to better serve the Chinese automotive market. As The Wall Street Journal notes, the move will help the Elon Musk-fronted company cut production costs and won’t need to form a joint venture firm with a local business – but it’ll likely still have to cough up a 25 percent import tariff on the cars it produces and sells there. Regardless, that’s a huge win for Tesla, as China is poised to put seven million electric vehicles a year on the road by…

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