Tesla (TSLA) CEO Musk: Economic Downturn Won't Affect Plans for China

Teska Motors (Nasdaq: TSLA) CEO Elon Musk took an optimistic view of the company's sales outlook for China early Friday morning.

According to China's Xinhua news source, Tesla will move to localize engineering and production in China, Musk said. The executive also noted that China's economic slowdown is unlikely to affect Tesla's commitment to the market.

Tesla is also moving to improving built-in maps and navigation on its Model S and a software upgrade is expected out this week.

On Thursday, JL Warren said Tesla Model S registrations in China fell 45 percent from January through February of this year.

Shares of Tesla are lower in early trading.

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