Tesla and Elon Musk Bet Big on China

The American electric vehicle carmaker will build a super battery manufacturing plant in Shanghai.

The tensions between the United States and China have never been higher. 

The two leading economic powers in the world are currently engaged in a latent technological war.

Other fronts of tension relate to the Chinese spy balloon that flew across the U.S.to gather intelligence from several sensitive American military sites and the Russian war in Ukraine. Beijing has backed Vladimir Putin's Russia while Washington and its NATO allies support Ukraine.

It is in this tense context that Tesla  (TSLA) - Get Free Report, the world leader in electric vehicles, has just doubled down its investments in China.

Second Factory in China

The Austin, Texas-based carmaker will build a factory in Shanghai for the production of its Megapack energy storage system, the group and its CEO Elon Musk said on April 9.

"Our next Megafactory will be in Shanghai