Tesla Nabs Up to $521 Million in China Loans for Plant

Tesla has raised $521 million and secured additional borrowing to fund its new plant in Shanghai, aiming to produce Model 3 cars in China by the end of the year. Despite a recent $925 million debt payment, Tesla remains financially stable with plans to raise funds locally. The company faces production challenges but aims to reach 3,000 cars per week. Tesla is the first foreign automaker to wholly own a manufacturing facility in China, where high tariffs have been a constraint. Building locally is crucial for capturing market share in the growing Chinese EV market.

What is the total amount Tesla has raised to fund its new plant in China?

• $1 billion

• $925 million

• $700 million

• $521 million

How did Tesla plan to raise funds for its China expansion?

• Through government subsidies

• By increasing car prices

• Through local banks

• By issuing new shares

What was the amount of Tesla's recent debt payment?

• $521 million

• $700 million

• $925 million

• $1.2 billion

What is Tesla's production target for Model 3 cars in China per week?

• 4,000 cars

• 3,000 cars

• 2,000 cars

• 1,000 cars

Why is local production important for Tesla in China?

• To reduce labor costs

• To improve technology

• To increase export

• To avoid tariffs