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Reuters first to reveal Tesla to take new $1.4 bln loan from Chinese banks for Shanghai factory

Reuters first to reveal Tesla to take new $1.4 bln loan from Chinese banks for Shanghai factory

Reuters was the first to report that U.S. electric vehicle maker Tesla Inc and a group of China banks have agreed on a new 10 billion yuan ($1.4 billion), five-year loan facility for the automaker’s Shanghai car plant, part of which will be used to roll over an existing loan. China Construction Bank, Agricultural Bank of China, Industrial and Commercial Bank of China and Shanghai Pudong Development Bank are among the banks which have agreed to give Tesla the financial support.