Tesla secures up to $521m loan from Chinese lenders for its vehicle factory

Tesla secures up to $521m loan from Chinese lenders for its vehicle factory

A Tesla logo hang on a building outside of a Tesla dealership in New York, U.S., April 29, 2016. REUTERS/Lucas Jackson

Tesla Inc. secured as much as $521 million in loans from Chinese banks to build a vehicle and battery factory in the country, putting the carmaker a step closer to producing Model 3 sedans at its first overseas plant.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter