Tesla to take $1.4 billion loan from Chinese banks

Tesla to take $1.4 billion loan from Chinese banks

Elon Musk’s Tesla is set to take a $1.4 billion loan from a group of Chinese banks for the automaker’s Shanghai car plant. The new loan will also be used to partially roll over the previous 3.5 billion yuan debt. The factory will be the company’s first manufacturing site outside of the US.

Kathy
Kathy
Paul C
Paul C 3 months

Hmm, not sure if this is a good long term strategy. China has a lot of humanitarian issues.

Billy Breitbart
Billy Breitbart 3 months

Telsa. The company that only exists due to government subsidies.

jane
jane 3 months

I normally trust Musk's judgement seeing as how he built two impossible companies from scratch, but everybody makes mistakes, and this is probably going to be one of those. Of course they're trapped now since it includes a consolidation of previous debt that they couldn't pay back in time. Dealing with China in this way is dangerous. They'll wait until everything is ready and the factory is running smoothly before confiscating it and kicking Tesla out of the country.

Benzion Menashe
Benzion Menashe 3 months

so musk released all the Tesla patents just to hide selling out to china?... very disappointed...

CoLpOeSnED
CoLpOeSnED 3 months

lol, curious what the Elon Musk fanboys have to say about this.

Sir_Kutz
Sir_Kutz 3 months

Gross.

Scott
Scott 3 months

Ick, add another one to the list.

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