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Tesla Secures Over $500 Million In Loans From Chinese Banks For Shanghai Factory

Video Credit: Wochit Business - Duration: 00:34s - Published < > Embed
Tesla Secures Over $500 Million In Loans From Chinese Banks For Shanghai Factory

Tesla Secures Over $500 Million In Loans From Chinese Banks For Shanghai Factory

Business Insider reports that Tesla has signed an agreement with Chinese banks for a loan of up to $521 million.

The mega loan will be used to build the electric car company's first overseas Gigafactory in Shanghai.

Construction of the factory has already begun and CEO Elon Musk predicts it will be ready as soon as this summer.

Overall the Gigafactory is expected to cost around $2 billion.

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Tesla Secures Over $500 Million In Loans From Chinese Banks For Shanghai Factory

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