View the latest market
Original title: Royal Bank of Canada: Tesla will raise about $1 billion 300 million to build factories in China
According to Bloomberg on November 16, Tesla has made new progress in raising funds to build a car factory near Shanghai. Royal Bank of Canada Capital Markets analyst Joe Spak said Tesla would raise about $1.3 billion locally, with interest rates of 3-5%.
Spak said the remaining $700 million in the initial budget would be invested by Tesla in equity over two years. He held a rating of $325 for the stock.
According to Tesla, China's official public number, Tesla Tesla, on October 17, Tesla (Shanghai) Co., Ltd. successfully acquired 864885 square meters (1297.32 mu) of industrial land in Shanghai Lingang Equipment Industrial Zone Q01-05 at a price of 973 million yuan, which also marks the site of Tesla. The sea super factory landed in port area.
On the same day, Tesla Company and the Shanghai Bureau of Planning and Land Resources Management formally signed the Land Transfer Contract. The scale of Tesla Shanghai Super Factory will exceed 1200 mu.
Earlier, Tesla announced that it was speeding up the construction of Shanghai Super Factory, hoping to learn from North American Model 3's growing capacity experience and build Shanghai Factory into a capital efficient and fast-moving factory. The signing of the land transfer contract is a solid step towards achieving this goal.
Musk has said it will speed up production in China and hopes to start manufacturing Model 3 in China in 2019. Tesla's vehicles in China will only be sold in China, and Super Factory 3 in Shanghai initially planned to produce 3,000 Model 3 vehicles a week.
In addition, according to the memorandum of cooperation signed by the Shanghai Municipal Government and Tesla in July this year, the two sides will focus on deepening cooperation and exchanges in the fields of electric vehicle technology innovation and industrial development, as well as providing support for Tesla Shanghai Super Factory.
Waonews is a news media from China, with hundreds of translations, rolling updates China News, hoping to get the likes of foreign netizens