Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Tesla lands $1.4 billion from Chinese banks to build out its Shanghai gigafactory

Tesla has reportedly secured over $1.4 billion in financing in the form of loans from multiple Chinese banks in order to help fund the construction of its new gigafactory in Shanghai. First Reuters and now Bloomberg reported the funding as confirmed on Monday morning, with an official announcement to happen sometime this week.

The loan will be distributed across five years, and will be used to both set up the new gigafactory and to help finance Tesla’s establishing of its China-based operations.

Tesla announced plans to construct its Shanghai gigactory in July, after which it opened pre-orders for its Model 3 vehicle in the country. The automaker is expected to be able to offer Model 3 cars built in-country at a slightly lower price than imported models. This factory will focus on supplying Model 3 vehicles specifically for the Chinese Market, and Tesla already broke ground on the Shanghai-based facility in January and began producing some vehicles, but as with its other gigafactories, the company can bring parts of the plant online while it works on completing other parts of the gigantic manufacturing plant.

Including the European gigafactory outside of Berlin that Tesla CEO Elon Musk announced in November, the automaker now has four gigafactories either operating, under construction or in development, including one in Reno, Nevada, and one in Buffalo, New York. Musk has teased a potential 5th gigafactory location reveal, but the company hasn’t provided any specifics thus far.

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

Drone crash near kids leads Swiss Post and Matternet to suspend autonomous deliveries

A serious crash by a delivery drone in Switzerland have grounded the fleet and put a partnership on ice. Within a stone’s throw of a school, the incident raised grim possibilities for the possibilities of catastrophic failure of payload-bearing autonomous aerial vehicles. The drones were operated by Matternet as part of a partnership with the Swiss Post (i.e. the postal service), which was using the craft to dispatch lab samples from one medical center for priority cases. As far as potential applications of drone delivery, it’s a home run — but twice now the craft have crashed, first with a soft landing and the second time a very hard one. The first incident, in January, was the result of a GPS hardware error; the drone entered a planned failback state and deployed its emergency parachute, falling slowly to the ground. Measures were taken to improve the GPS systems. The second failure in May, however, led to the drone attempting to deploy its parachute again, only to sever the line...
Post a Comment
Read more

How the world’s largest cannabis dispensary avoids social media restrictions

Planet 13 is the world’s largest cannabis dispensary. Located in Las Vegas, blocks off the Strip, the facility is the size of a small Walmart. By design, it’s hard to miss. Planet 13 is upending the dispensary model. It’s big, loud and visitors are encouraged to photograph everything. As part of the cannabis industry, Planet 13 is heavily restricted on the type of content it can publish on Instagram, Facebook and other social media platforms. It’s not allowed to post pictures of buds or vapes on some sites. It can’t talk about pricing or product selection on others.   View this post on Instagram   A post shared by Morgan Celeste SF Blogger (@bayareabeautyblogger) on Jan 25, 2020 at 7:54pm PST Instead, Planet 13 encourages its thousands of visitors to take photos and videos. Starting with the entrance, the facility is full of surprises tailored for the ‘gram. As a business, Planet 13’s social media content is heavily restricted a...
3 comments
Read more