Tesla plans to build a US$5-billion car-manufacturing plant near Shanghai in China, and is weighing possibly raising part of the funds for the factory from local partners, Bloomberg reported on Wednesday, citing a person familiar with the plans. Tesla expects to begin production of its Model 3 in the new Chinese plant by 2020, Bloomberg’s source said. Last month, reports had it that Tesla plans to build a manufacturing plant in China with a capacity to produce 500,000 vehicles annually, and was expected to sign a preliminary deal on the matter with local entities in Shanghai. Elon Musk visited China in July, and said that he had excellent meetings with senior leaders in the country. Musk said on Twitter on July 12 that he was “impressed” with the Tesla China team and the potential for the future. According to Bloomberg , Musk struck a preliminary agreement to begin construction […]