It's part of a larger strategy to exit unprofitable markets.
Last year seemed a troubled one for Tesla. And now? Its stock has more than doubled since October.
Right now, there are 63,000 public charging stations in the country, according to the Alternative Fuels Data Center, compared with 168,000 stations that serve gas.
They've fallen 87% since 2010. That means cheaper electric vehicles.
The Detroit automaker is gambling that the combination of an SUV body shape, electric drivetrain, and the Mustang badge, will attract buyers.
American manufacturers are eager to win Chinese customers.
Electric cars are drawing attention and Chinese automakers are to the fore.
But how will the innovative, and controversial, company deal with a backlog on deliveries while at the same time shrinking its workforce? Click the audio player above to hear the full story.