Aug 1, 2018

Tesla to invest $5 billion in Shanghai factory

Elon Musk in Beijing, China, in October. Photo: VCG/VCG via Getty Images.

Tesla is planning on investing $5 billion in a factory built near Shanghai due to the ongoing U.S.-China trade war, Bloomberg reports.

Why it matters: China is the second-largest market for the electric car company, per Bloomberg, and it recently imposed 25% in retaliatory tariffs on American-made cars, bringing the total to 40%. Tesla hopes to produce its Model 3 — which has faced serious production difficulties at its U.S. plant — at the new factory by 2020.

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Medicaid will be a coronavirus lifeline

Illustration: Sarah Grillo/Axios

Medicaid will be a lifeline for droves of Americans affected by the coronavirus pandemic.

Why it matters: Medicaid has long been the safety net that catches people during hard times, but a crisis of this magnitude will call upon the program — and strain states' budgets — like never before.

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Axios-Ipsos Coronavirus Index: Rich sheltered, poor shafted amid virus

Data: Axios/Ipsos survey. Margin of error ±2.8 points for full sample. Margin for subgroups ranges from ±5 to ±9 points. Chart: Naema Ahmed/Axios

The coronavirus is spreading a dangerous strain of inequality.

  • Better-off Americans are still getting paid and are free to work from home, while the poor are either forced to risk going out to work or lose their jobs.

Driving the news: This sobering reality emerges from Week 3 of our Axios-Ipsos Coronavirus Index.

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How the pandemic will reshape cities

Illustration: Eniola Odetunde/Axios

The coronavirus pandemic will leave its mark on urban centers long after the outbreak itself recedes.

Why it matters: The most densely populated cities are ground zero for the virus' rapid spread and highest death tolls — and they're also likely to be pioneers in making lasting changes to help prevent the same level of devastation in the future.

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