Tesla Inc. reached an agreement with lenders in China to receive as much as a half-billion dollars to invest in its Shanghai factory currently under construction. The electric-car maker said in a securities filing Thursday that a syndicate of lenders agreed to provide up to 3.5 billion yuan ($521 million) for construction and production expenses at its so-called Gigafactory Shanghai. Tesla’s lenders in the agreement are China Construction Bank Corp., Agricultural Bank of China Ltd., Industrial and Commercial Bank of China...

Source: Wall Street Journal March 07, 2019 23:37 UTC