Anonymous ID: d754a5 March 7, 2019, 1:57 p.m. No.5562860   🗄️.is 🔗kun   >>2878 >>2895 >>2904 >>3202 >>3340

Tesla : enters into agreement with Chinese lenders for Gigafactory

(so now we know why they gave Musk a Visa)

 

(Reuters) - Tesla Inc said on Thursday it signed an agreement with lenders in China for a 12-month facility of up to 3.5 billion yuan ($521 million) for the electric carmaker's Gigafactory in Shanghai.

 

The company broke ground on the factory in January, and a Shanghai city government official said on Wednesday that the facility is expected to be completed in May.

 

Tesla has said that the Gigafactory will cost around $2 billion.

 

Producing cars locally is likely to help the company minimize the impact of the U.S.-China trade war, which has forced Tesla to adjust prices of its U.S.-made cars in China.

 

Keeping prices in check will also help Tesla fend off competition from a swathe of domestic electric vehicle startups such as Nio Inc, Byton and XPeng Motors.

 

https://www.marketscreener.com/TESLA-6344549/news/Tesla-enters-into-agreement-with-Chinese-lenders-for-Gigafactory-28129931/?countview=0