Tesla is set to receive up to $521 million to invest in its factory in Shanghai
Tesla Inc. reached an agreement with lenders in China to receive as much as a half-billion dollars to invest in its Shanghai factory currently under construction.
The electric-car maker said in a securities filing Thursday that a syndicate of lenders agreed to provide up to 3.5 billion yuan for construction and production expenses at its so-called Gigafactory Shanghai. Tesla’s lenders in the agreement are China Construction Bank Corp., Agricultural Bank of China Ltd., Industrial and Commercial Bank of China...
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