Tesla has raised over-all of approximately $1.6 billion from Chinese banks for its Shanghai Gigafactory,
American automotive and energy company Tesla has raised over-all of approximately $1.6 billion from Chinese banks for its Shanghai Gigafactory, the first Tesla’s factory outside the United States of America.
Besides construction and production at the Shanghai Gigafactory, the loan may further be used to repay a debt due March 4, 2020.
As of 2019, Tesla sells Model S, Model X, and Model 3 cars.
After a decade in the market, Tesla ranked as the world’s best-selling plug-in passenger car manufacturer in 2018, both as a brand and by automotive group, with 245,240 units delivered and a market share of 12% of the plug-in segment sales.
Tesla vehicle sales in the U.S. increased by 280% from 48,000 in 2017 to 182,400 in 2018, and globally were up by 138% from 2017.
However, Tesla has never had a profitable year. It has been reporting net losses most quarters for many years.
In third-quarter2019, Tesla surprised forecasters, who had been anticipating a quarterly loss of approximately 40 cents per share, with adjusted earnings of US$1.61 per share, on total quarterly revenue of US$6.3 billion.