Tesla seeks credit for $ 2 billion

According to the latest market research firm JL Warren Capital, which specializes in Chinese financial market, Tesla company is currently trying to attract $ 2 billion (more than 13 billion yuan), private investment in construction in Shanghai a huge factory to produce batteries and electric vehicles. According to the source, the main Tesla partners in this case may be the Pudong Development Bank in Shanghai, the Industrial and Commercial Bank of China, China Konstraksh Bank and Agricultural Bank of China.

Tesla seeks credit for $ 2 billion

Tesla said China is a very important market for itself for growth. In 2018, China had sold more than 1, 25 million electric vehicles. The program to improve the environmental situation in the country, the government wants China to increase this figure to 7 million by 2025. Tesla, of course, wants to be a part of this initiative.

In January of this year, CEO Elon Musk visited China and talked about future plans for the development of their business. Apparently, local officials American businessman and his ideas have liked so much that they even gave him a "green card", which allows the mask to become a tax resident of China and do business in this country.

"We have to start a factory in Shanghai. I think it will be the best opportunity to reach the planned production level of more than 500,000 electric Tesla in the year. To drive our cars in China is very expensive. Prevent imports went logistics costs. In addition, higher labor costs "in our country, - said while the mask on a meeting with local Chinese authorities.

The latest report JL Warren Capital, which also deals with the analysis of Chinese companies on the US market, said that about 500 million dollars (3, 3 billion yuan) of the total amount of attracted investment company plans to invest in the first phase of the plant construction Gigafactory in Shanghai.

The report for the fiscal fourth quarter of last year, Musk noted that the capital cost of the production output of electric Model 3 3000 in Shanghai will be about 0, 5 billion dollars.

JL Warren predicts that in the first stage of financing interest rate for Tesla could reach 3, 9, which is below the rate of 4, 35, established by the People's Bank of China. This, according to market research firm, will enable the American manufacturer of electric cars reach production level of 250,000 electric sedans Model 3.

In the company Tesla has not commented represented by JL Warren information. By the way, most between Tesla and JL Warren in the past there were strained relations. In 2017, the research firm released a report stating that China posed in 6000 electric vehicles were sold. In response, representatives of Tesla in an interview with Forbes publication stated that the data "are inaccurate and not trustworthy."

China seeks to remedy the environmental crisis in the country, introducing new, more environmentally friendly technologies in all areas of production. This initiative also affects the market and car manufacturers transitioning to the production of electric vehicles. For example, those avproizvoditeli, whose headquarters are located in China, received government subsidies and other support for a total of $ 60 billion in 2012. Thus, the Government encourages the industry to switch to the production of electric vehicles available to the public. Without the existing production base in China Tesla loses these benefits. Thus, the same electric Model S, the base version of which is in the United States today is offered in about 80 000 dollars, after all the costs associated with the delivery to China, it will cost about 140 thousand dollars, which, of course, highly reduces the number of potential buyers . With factory in China, the company was able to take advantage of state support, reducing not only the cost but also the final cost of electric vehicles Model 3, is not only in China but around the world.

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