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
(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, and secured new commitments from banks that could be used for investments in the United States and elsewhere.
The company broke ground on the factory in January.
