Source: Shanghai Municipal People's Government
Shanghai Mayor Ying Yong and Tesla Chairman and CEO Elon Musk come from a Tesla (Shanghai) Ltd. plaque. Electric Vehicle Development and Innovation Center.
Tesla raises around $ 2 billion (over 13 billion RMB) from Chinese lenders to build its massive battery and automotive factory in Shanghai, according to research by JL Warren Capital.
Musk said in the fourth quarter earnings call that Tesla would need "something in the order of $ 0.5 billion in CapEx to get to 3000 car prices in Shanghai."
JL Warren said the first funding phase is likely to have a 3.9 per cent interest rate, below the public bank's benchmark index of 4.35 per cent. It would help Tesla get its assembly line to run to produce its initial 250,000 lower model 3 electric sedans.