5 things to know about Tesla's China plans

BEIJING — Electric vehicle producer Tesla Inc. says it will build its first factory outside the United States in Shanghai.

The step is logical for a company that looks to China as its No. 2 market. But Tesla faces growing competition from Chinese and foreign brands that are developing dozens of electric models. And its announcement said nothing about how it will pay for the venture.

Here are five things to know about Tesla's China plans:

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