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Tesla enlarges China businesses with electricity generation

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Tesla enlarges China businesses with electricity generation

Issue Time:2020-05-27
Tesla (Shanghai) Co.,Ltd. has got its China businesses expanded with the operations of the generation, transmission and supply of electricity added on May 21, according to the National Enterprise Credit Information Public System, a Chinese governmental credit agency.

The U.S. EV manufacturer is also recruiting the talents that are responsible for Tesla's China business development of power grid and electricity generation, according to a job listing the company released on May 6 via an official WeChat account. 

The latest modification of the business scope came after the issuance of a three-year (2020-2022) action plan launched by China (Shanghai) Pilot Free Trade Zone Lin-gang Special Area Administration in early May, which highlighted the exploration of the scenarios adapted to photovoltaic power. Thus, someone surmises that Tesla is ready to bring its solar roof business to the country.

By leveraging the intensive roof resources and stable electrical load of local industrial cluster, Lin-gang Equipment Industrial Area will serve as a key pilot zone for applying photovoltaic power relying on self-generation of power at the users' end for self-use and utilization of surplus power in the grid by 2022, with the newly-constructed up-to-standard plants fully covered by solar roofs and 60MW solar photovoltaic projects set to be launched then, according to the governmental document.

Tesla (Shanghai) Co.,Ltd. changed its registered location to SHFTZ Lin-gang Special Area on April 13. Meanwhile, Tesla Shanghai enlarged its line of business by the adding value-added telecommunication business into the licensed business item and the rental & leasing businesses of mechanical equipment, non-residential property and automobile to the general item.

The SHFTZ is the epitome of China's deepened reform and opening-up. Companies located there are provided with a number of facilitation policies. For instance, they are allowed to pay the registered capital in a manner independently agreed on by themselves and obtain business license without paying registered capital. The registration of foreign-invested companies at the SHFTZ adopts the recording system rather than the examination and approval system, largely streamlining the administrative procedures for companies' establishment.
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