Tesla on Wednesday confirmed that it has closed its first store ever opened in mainland China at an upscale shopping arcade called Parkview Green after nine years in operation. The new location at a nearby mall is smaller and is the latest example of the US automaker’s cost-cutting efforts in its second-largest single market, people familiar with the matter told Reuters. The company has been shifting its retail strategy in China by spending more resources on stores in suburban locations while closing some downtown locations, with the goal of cutting costs and improving after-sale services, according to a Reuters report on Sept. 15. [Reuters]