Tesla Motors Inc Plans Manufacturing Plant In Europe [REPORT]

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Tesla Motors Inc Plans Manufacturing Plant In Europe [REPORT]
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Tesla Motors Inc (NASDAQ:TSLA) is planning to set up a plant in Europe after recording sales of 160,000 units of electric cars in a year, according to Automotive News, which cites chief executive Elon Musk. While talking to the news site in London during the celebration of the delivery of the first right-hand-drive Model S sedans in the United Kingdom, Musk said that he is envisioning selling a comparable number of cars in Europe as in the United States.

U.K. to become hub for Tesla Europe

There was no comment from Tesla Motors Inc (NASDAQ:TSLA) officials, but according to Musk, the company will have to open a plant in China within three to four years and will consider one in Europe as well. He added that setting up a factory in Europe or China would only be justified when global sales surpasses 500,000 vehicles.

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