The company managed by Elon Musk just set sails to enter the Chinese market, which is known to be one of the most promising concerning electric vehicles.
According to the Chinese magazine Yicai, Tesla registered a company in Shanghai by injecting a $15.8M in equity.
The presence of Tesla in China is vital since that country contributes to a 3% of Tesla's total revenue.
You can reference for more info at this link:
https://qz.com/1277937/tesla-is-setting-up-shop-where-the-real-money-is-in-electric-cars-china/
