October 29, 2020

    Daily Auto News, Luxury Cars, Photos, Prices, Spy Shots, Videos, Incidents and more
    Tesla Model 3

    Tesla cuts starting price for China-made Model 3 cars by 8 percent

    U.S. electric automaker Tesla reduce the starting price of its Chinese-made Model 3 sedans on Thursday by about 8% to 249,900 yuan ($36,805), once Chinese subsidies for electric vehicles are taken into account. The update on the company’s China website showed. Previously, the starting price for Model 3 sedans made in Tesla’s Shanghai factory with […]

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    Tesla secures $565 million loan for Shanghai factory

    Electric automaker Tesla Inc has reached an agreement for a working capital loan of up to 4 billion yuan ($565.51 million) with a lender from China for its Shanghai auto plant, a regulatory filing showed on Friday. The loan, which will be given by Industrial and Commercial Bank of China Limited, will be used only for expenses related […]

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    Tesla reportedly halts car production at Chinese plant

    Tesla has halted production this week at its factory near Shanghai, Bloomberg reported.  Factory workers were supposed to get back from a five-day Labor Day break on Wednesday, but were told to increase the holiday and return as soon as Saturday, Bloomberg reported, mentioning unnamed sources.  The company informed Bloomberg that its Shanghai factory is closed due […]

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    Tesla plans to expand parts production capacity in Shanghai

    Tesla Inc prepares to boost its production capacity for certain auto parts at its $2 billion factory in China, according to a government document observed by Reuters, as it pushes to localize its supply chain in the country. The U.S. automaker, which started making deliveries Model 3 electric sedans from its Shanghai factory in December, […]

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    Shanghai to help Tesla restart production despite coronavirus spread

    Tesla’s factory in China’s financial hub of Shanghai will restart production on February 10 with assistance to help it cope with a growing epidemic of coronavirus, a Shanghai government official stated on Saturday. Many factories throughout China closed in late January for the Lunar New Year holiday that was initially due to end on January […]

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    Tesla To Deliver First China-Built Car in Milestone for Musk

    Tesla Inc is set to deliver China-built cars on Monday, a significant milestone for Elon Musk’s company as it broadens in the world’s largest electric-vehicle market. The first 15 units of Model 3 sedans created at Tesla’s new multi-billion-dollar Shanghai plant are set to be delivered to company workers on December 30, capping several months […]

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    Tesla secures $1.29 billion loans from Chinese banks for Shanghai plant

    Tesla Inc has entered into agreements with lenders in China for a secured term loan facility of about 9 billion yuan ($1.29 billion), as per a regulatory filing on Thursday. The electric automaker stated it has signed agreements for an unsecured revolving loan facility as well of up to 2.25 billion yuan ($322 million), adding […]

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    Tesla to take new $1.4 billion loan from Chinese banks for Shanghai factory

    Tesla Inc and a group of China banks have accepted a new 10 billion yuan ($1.4 billion), five-year loan facility for the automaker’s Shanghai auto plant, three sources knowledgeable with the matter stated, part of which will be used to roll over a present loan. China Construction Bank (CCB), Agricultural Bank of China (AgBank), Industrial […]

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    Tesla investigates the apparent explosion of a parked car in Shanghai

    Tesla has sent a team to investigate the explosion of one of its cars in Shanghai. Tesla stated Monday it immediately sent a team to probe an apparent explosion of one of its cars which took place in Shanghai on Sunday. No casualties have been reported at this time, the electric car company stated in […]

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    Tesla secures Shanghai plot for $2 billion to build Gigafactory

    Tesla Inc has signed a deal with the Shanghai government for an 860,000 square meter plot of land to construct its first overseas Gigafactory, the automaker stated in a Chinese social media post. The land agreement marks a major step toward the company and its CEO Elon Musk making cars regionally in China for the […]

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    Tesla signs a deal to build auto plant in China

    Tesla Inc CEO Elon Musk on Tuesday landed a deal with Chinese officials to construct a new auto plant in Shanghai, its first factory outside the United States, that would double the size of the automaker’s worldwide manufacturing. The deal was announced as Tesla increased prices on U.S.-made vehicles it sells in China to offset […]

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