Chinese bank, Tesla to build charging facilities

China Minsheng Bank and U.S. electric car maker Tesla Motors will cooperate in constructing at least 400 charging facilities in 20 Chinese cities, they agreed on Tuesday.

The charging facilities will located at branches of the joint-stock commercial bank, according to the agreement.

The bank said the deal will "help promote its community-based financial services and further tap the high-end market." Tesla will also benefit in expanding its presence in China, the world's largest auto market.

Tesla also signed an agreement with China Unicom in August to build more than 400 charging facilities in 120 Chinese cities.