Tencent Technologies News June 6, Tesla CEO Musk announced at the 2018 shareholders\'meeting that Tesla will build a factory in China, the factory name is \"Dreadnought\" (fearless), will produce power batteries and assemble the whole vehicle at the same time. Affected by this, Tesla rose more than 3%. At the shareholders\'meeting in Silicon Valley on June 5 local time, Ren Yuxiang, who has just been promoted from President of Tesla Asia Pacific to President of Global Sales, announced that Tesla would establish its first overseas factory in Shanghai. Tesla CEO Mask also said at the meeting that Tesla\'s Chinese factory was named \"Dreadnought\" (meaning fearless). It is learnt that Shanghai factories will produce Tesla\'s electric vehicles and the power batteries it needs at the same time. Before that, Tesla\'s power batteries were manufactured in Gigafactory, Nevada, USA, and the Model S/X/3 models were in Fremont, California.