June 22, 2017 / 10:37 AM / 2 months ago

Tesla reaches agreement with Shanghai to explore production: Bloomberg

FILE PHOTO -- A Tesla Model S charges at a Tesla Supercharger station in Cabazon, California, U.S. May 18, 2016.Sam Mircovich/File Photo

(Reuters) - U.S. electric-car maker Tesla Inc has reached a preliminary agreement with Shanghai to explore production in the Chinese city, Bloomberg reported on Thursday, citing people familiar with the matter. (bloom.bg/2twAd6z)

Tesla's revenue from China more than tripled to over $1 billion last year, according to its annual report.

The company did not immediately respond to a request for comment.

Tesla's shares were slightly higher at $378.50 in premarket trading.

Reporting by Narottam Medhora in Bengaluru; Editing by Sai Sachin Ravikumar

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