On Monday morning, Tesla (TSLA) shares broke their week-long losing streak. The modest jump came off the back of reports that CEO Elon Musk is planning a trip to Shanghai, marking the latest move in the company's stated intention of building a new Gigafactory in China. According to Bloomberg, Musk will be attending a government event. The news was made official on July 9th, when it was announced that Tesla would indeed be building a Gigafactory in Shanghai.
Tesla announced in June 2017 that it was exploring Shanghai's local manufacturing possibilities and