8 Mar 19

Good progress for Tesla's Shanghai Gigafactory funding

Tesla has broken ground on its USD 2 billion Gigafactory in Shanghai. In the meanwhile, locally sourced funding is coming nicely together; a USD 521 million credit line agreement is closed between the US company and a syndicate of Chinese investors. Tesla's credit agreements now total in excess of USD 2.4 billion. Guarantees come essentially from account receivables, inventory and equipment.  

Tesla is keen to kick off China production as soon as possible, to avoid heavy trade tariffs and compensate for slow US deliveries

Authored by: Yves Helven