Elon Musk visited China and won a tax break for Tesla

Chinese authorities say Tesla has won an exemption from a 10 percent purchase tax, which will reduce the price that customers will have to pay for a Model 3, Model S or Model X

Chinese authorities announced on Friday that Tesla has won an exemption from a 10% purchase tax, which will reduce the price that customers will have to pay for a Model 3, Model S or Model X. Thirty-four carmakers were on the exemption list, which was released by the Ministry of Industry and Information Technology and State Taxation Administration. The list mainly applies to cars made by joint ventures between Chinese and foreign companies, like Daimler and Toyota .

While Tesla has plans for a major facility in China, it still relies on its main plant in Fremont, California to produce vehicles for the world's biggest car market. In the past, the company has slashed its prices to absorb the cost of Chinese tariffs.Tesla's Gigafactory under construction in Shanghai, China.The carmaker has ambitious plans for China. A new manufacturing plant in Shanghai — Tesla's Gigafactory — has been under construction since the start of the year.

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