Tesla to break ground on Shanghai gigafactory today

The 2020 Kia Soul EV which is expected to be an affordable electric car

While the ground-breaking event, scheduled for 3 p.m. local time at a site near the city, marks a new journey for Tesla, it comes at a point where China's economy is showing signs of strain amid the trade war with the U.S.

Elon Musk is fighting to keep his ex-girlfriend from being dragged into an investor lawsuit over the Tesla (TSLA) CEO's now infamous take-private tweet.

The American electric auto manufacturer Tesla is asking the government of President Donald Trump in the trade dispute with China to exceptions.

The Securities and Exchange Commission, which ended up fining Musk and Tesla $20 million each over the August 7 tweet, as well as removing Musk as chairman and forcing the addition of two independent directors to the board, found in a probe that Musk's relationship with Grimes played a role in setting the price he said he would ask for Tesla. The deadline of reduced tariff would end on March 2nd, and after that, the tariff on USA made autos on China would revert back to 40 percent, instead current 15 percent.

A Chinese flag is seen on the land secured by Tesla for its Gigafactory in Shanghai.

Lawyers for investors in this case said both she and her "current or former" friend, United States rapper Azealia Banks, were "in direct contact with Musk in the hours and days following the tweet" and might have evidence which was in danger of being destroyed because it was likely to be stored electronically, such as on social media. "This is going to get extremely ugly.Elon will learn very soon who is more powerful of us two".

'Fighter' Djokovic into Qatar quarter-finals after scare
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"With the construction of the Shanghai factory, the faster the better (for Tesla)", Kang said.

Tesla plans to produce its Model 3 and Model Y cars in the initial phase of production at the Shanghai plant, with an annual capacity of 250 000 vehicles.

The billionaire-entrepreneur is facing a auto market that probably shrank previous year for the first time since at least the 1990s as uncertainties surrounding the trade war between the world's two biggest economies, signs of weakening domestic demand in China and a stock slump take a toll on consumers.

"Aiming to finish initial construction this summer, start Model 3 production end of year & reach high volume production next year", Musk wrote in a separate post on Twitter.

The new Gigafactory will produce Tesla Model 3 and the produce will be used to cater to Greater China region demands.

China is the largest market for electric vehicles, and most forecasters predict EV sales in the country will accelerate rapidly as government regulation drives toward a goal of 100 percent electric vehicles by 2030.

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