Listen: Tesla enters into agreement with Chinese lenders for Gigafactory
"Tesla is such a reached a China Bank loan agreement for its plant. Let's get details from Bloomberg's Denise Pellegrini. We're hearing tesla has reached an agreement to secure as much as five hundred twenty one million dollars in loans from Chinese banks to build its vehicle and battery factory in the country. This will put tesla step closer to producing model three sedan. At its first overseas plant near Shanghai. The lenders are said to include China Construction, Bank industrial and commercial Bank of China and Shanghai prudan development Bank. They'll provide a series of loans in batches apparently, tesla also is amended a separate asset backed credit agreement increasing how much it can borrow going forward by seven hundred million dollars. Tesla broke ground on the"