Tesla Locks Up a Loan for Its Chinese Factory

At least one of the many questions Tesla investors were considering lately was answered Thursday night when the company announced a loan it will use to fund construction of a Chinese factory.

The Chinese factory is seen as crucial to the company’s long-term growth ambitions. Tesla wants access to the country’s market, and has said it plans to start production of the Model 3 there by the end of this year. Recent news out of Chinese competitor Nio illustrated broader issues in the country, ranging from macroeconomic concerns to the possibility of reduced electric vehicle subsidies this year. Some bulls think, though, that subsidy cuts could aid Tesla by making its vehicles more affordable on a relative basis.

Please let my 1 share bounce back.

Elon is really a desperate man doing business with Cons.

tanks for updates marketwatch

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Tesla enters into agreement with Chinese lenders for GigafactoryTesla said it had amended its asset-backed lending credit agreement with a syndicate of banks, increasing revolving commitments by $500 million to a total of $2.42 billion, while extending the maturity date of the agreement by three years.
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