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October 22, 2017 06:00 pm

Tesla Plans Factory In China, Discounts Insurance For Self-Driving US Cars

Business Insider reports:Tesla has created a customized insurance package, InsureMyTesla, that is cheaper than traditional plans because it factors in the vehicles' Autopilot safety features and maintenance costs. InsureMyTesla has been available in 20 countries, but Tesla just recently partnered with Liberty Mutual to make the plan available in the U.S. InsureMyTesla shows how the insurance industry is bound for disruption as cars get safer with self-driving tech. Electrek reports:There have been several false alarms over the past few years about Tesla building a factory in China. Earlier this year, Tesla finally confirmed working with the Shanghai government to establish a manufacturing facility in the region and promised an announcement by the end of the year. Now the Wall Street Journal reports that they have come to an agreement with the local authorities on a "wholly owned" factory in the region... China is already the biggest market for electric vehicles, or any vehicles for that matter, and Tesla profited from the demand by tripling its sales to over $1 billion in the country in 2016. Tesla continues to have strong sales in the country this year, where it leads foreign electric car sales with no close second.

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