Tesla Motors Inc. And Haichang Will Build Superchargers In China [REPORT]

Tesla Motors Inc (NASDAQ:TSLA) has signed an agreement with Chinese theme park operator Haichang Holdings Ltd (HKG:2255) to build supercharging stations. The Chinese company announced Monday that, in the first phase of cooperation, it will identify sites in its theme parks in the northeastern city of Dalian.

Haichang to help Tesla build charging stations at its theme parks

Then the two companies will develop supercharger stations for Tesla Motors Inc (NASDAQ:TSLA) cars. In the second phase, the two parties will extend their cooperation to other cities. Haichang will explore sites at its marine theme parks in other cities and will organize events and cultural activities with the theme of Tesla cars. What’s the connection between high-end Tesla cars and Haichang’s theme parks, which emphasize polar animals?

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Haichang board believes that the cooperation supports the company’s mission to insist on environmental protection. The agreement will also facilitate brand-building, said the Chinese company. China is the world’s largest automobile market, representing a huge potential for the U.S. electric vehicle maker. But a lack of charging infrastructure and tight supplies have limited the company’s sales in the world’s most populous country.

Tesla’s annual production to reach one million by 2025

What’s more, the government of China is planning to provide a whopping $16 billion in government funding to build charging stations and boost demand for electric vehicles, sources familiar with the matter told Bloomberg. The policy would be announced soon. However, sources didn’t provide details on whether the government-funded charging facilities will be compatible with Tesla cars.

Chinese government has set a target for electric vehicles to account for at least 30% of government vehicle purchases by 2016. Tesla began shipping its Model S sedan to China in April. The Elon Musk-led company aims to open 100 stores in China by the end of 2015. Deutsche Bank forecasts that Tesla would produce one million cars a year by 2025.

Tesla Motors Inc (NASDAQ:TSLA) shares inched up 0.33% to $263.40 at 12:50 PM EDT on Tuesday.