Tesla took another step toward its first factory outside the U.S.
The company announced plans to build in Shanghai back in July, and now it's struck a deal to buy the necessary land.
Tesla's announcement on Chinese social media didn't reveal the land's price tag, but according to Reuters the purchase price was over $140 million.
Tesla already started hiring for the Shanghai location. The company previously said it will start producing cars there about two years after construction gets underway.