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CCTV Script 08/01/19

— This is the script of CNBC's news report for China's CCTV on January 8, 2018, Tuesday.

It has been 5 years since Elon Musk, Tesla CEO, said they will set up a China factory in Jan 2014. Now, the groundbreaking of its China plant is also captured as a milestone moment to Tesla. And this super factory program set in LINGANG is also the largest foreign manufacturing projects in SHANGHAI ever.

This super factory's initial target to make250, 000 units, includes Model 3 etc. Tesla Super Factory integrates R&D, manufacturing, sales and other functions, and will produce 500,000 pure electric vehicles annually after completion and operation.

News of Tesla breaking ground in SHANGHAI certainly boosts confidence on Wall Street. We know that China is the biggest overseas market to TESLA, but because of international trade friction, TESLA sales in China saw a big drop. Tesla localization in China will help to reduce its price in China and boost sales, ramping up TESLA profits. So we can see the TESLA stock price gained a lot overnight: at the open on Monday, TESLA opened 1.3% higher and hit a peak intraday, even gained 5.9% but closed up at around 5.44%, recording a new high in 3 weeks.

Musk presented in the ceremony and said he hopes more Chinese talents who major in related areas can join Tesla.

Elon Musk

CEO of Tesla Motors

We are looking for the very best talents in china to join tesla china, we do emphasis that there is no limit on the potential, one day, somebody can join us as an engineer here at tesla shanghai, and ultimately, maybe you have my job one day, so we are looking for the very best people to join and help us focus on a sustainable future for the world.

Meanwhile, analysis believes Tesla entering China market will exert Catfish Effect, stimulate the competition sense for Chinese local new energy autos, and then advance tech innovation.