Electronics Production |
Tesla secures loan for its Shanghai gigafactory
On May 7, 2020, as part of Tesla’s continued expansion of production at its Gigafactory in Shanghai, the company entered into a Working Capital Loan Contract with Industrial and Commercial Bank of China Limited.
According to a regulatory filling, the company may draw funds from time to time of up to a total of RMB 4.0 billion (about USD 565.51 million). The loans may be used only for expenditures related to production at our Gigafactory Shanghai, the filling reads.
