The car, to be sold under the 'Hengchi' brand, will debut in the first half of next year, with mass production starting in 2021, the company said in a statement
Porsche and Mercedes-Benz are also joining Formula E for the 2019-2020 season to help generate buzz for the new all-electric models they have coming out
Owning and driving a Tesla car will have to wait till the government reduces taxes on imports.
Tesla's stock price plunged more than 25 per cent over the past month