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Despite all the trade war rhetoric, Tesla seems to be in China's good books. The company secured a big tax exemption which was announced on Friday.
The Chinese government has agreed to drop a 10% purchase tax on most electric vehicles, including Tesla's entire range. Due to Tesla being an American company there were concerns that they would not be included in the exemption.
Elon Musk has struck a good relationship with the Chinese. The gigafactory being built there is an indication of his faith in the country. It is of course the first production facility that Tesla is building outside the US.
China have embraced electric vehicles with open arms. I believe Elon Musk and The Tesla brand have a big following in China already. That country could be huge for Tesla.
The share price closed up 1.8% on the news.
