Foreign media: Tesla won Chinese banks 10 billion yuan loans mainly for Shanghai factory and Chinese business

　　IDG, according to foreign media reports, sources said on Monday, the US electric car manufacturer Tesla has reached an agreement with a number of Chinese banks, which will provide 10 billion yuan (US $ 1.4 billion Tesla factory in Shanghai ) five-year loans, some of which will be used to roll over existing loans.
　　The news that agreed to provide financial support to Tesla Chinese banks including China Construction Bank, Agricultural Bank of China, Industrial and Commercial Bank of China and Shanghai Pudong Development Bank. According to Tesla filed documents with the Securities and Exchange Commission show that Chinese banks Tesla has previously provided a period of 12 months, the amount of up to 3.5 billion yuan of loans, the loan will be 4 March 2020 maturity.
　　It is reported that the new loans obtained in Tesla, will be used to repay maturing loans of RMB 3.5 billion. Another source said, the rest will be used to operate the plant and Tesla Tesla Shanghai business in China. The message also said the new loan interest rate will be the same as the first loan interest rates are calculated in Renminbi lending rates will be set to 90% interest rate for one-year central bank announced (ie 3.915%). This is the interest rate the banks to their best customers. Up to now, China Construction Bank, Agricultural Bank of China, Industrial and Commercial Bank of China, Shanghai Pudong Development Bank and Tesla both declined to comment for this story.
　　Tesla Shanghai factory broke ground in January this year, it has been put into the sound field. According to Tesla's goal, at the end of this year's Shanghai plant Zhou production capacity will reach at least 1000 Model 3.
　　Tesla Shanghai plant is the company's first factory located outside the United States, it is to improve its sales in the world's largest auto market core. Shanghai government also supports Tesla project, which will be China's first wholly foreign-owned auto plants, reflecting the government to open up the transformation of the automotive market. (Artesyn Technologies compile / Mingxuan)