Categories AlphaGraphs, Earnings

Tesla (TSLA) gets another boost after securing $1.4-bln loan from Chinese banks

While preparing to commence full-fledged production at its Chinese factory, Tesla (NASDAQ: TSLA) is said to have secured a fresh loan of about $1.4 billion from a group of banks in the country. The financing comes at a time when the electric car maker is gearing up to roll out new models in China, including the latest Model Y. The stock gained about 1.5% during Monday’s pre-market trading.

In Expansion Mode

According to a report published by Reuters, a part of the five-year loan will be used for settling financing of about $500 million availed earlier this year from various banks, including China Construction Bank, Agricultural Bank of China, Industrial and Commercial Bank of China and Shanghai Pudong Development Bank.

Related: Telsa gains after Elon Musk reveals plan for Cybertruck

It is learned that the remaining amount will be used for expanding Tesla’s China operations, including completion of the factory. The report said that the creditors are offering the loan at the ‘best’ interest rate, which is slightly below the one-year benchmark rate set by the country’s central bank.

Tesla Q3 deliveries rises on Model 3 orders

Tesla’s CEO Elon Musk bets on the China facility to enhance profitability, as it would give the company access to the world’s largest automobile market while escaping the heavy tariffs imposed by the Chinese government on auto imports from the US. Currently, the focus is on increasing production and manufacturing more parts in China.

Q3 Surprise

Recently, the Silicon Valley firm surprised the market with stronger-then expected third-quarter earnings even as revenues dropped 8%. Then, the management reaffirmed its production goals for the Shanghai factory, despite the lingering uncertainties related to the Sino-US trade war.

Bullish View

Last week, investor confidence got a boost after brokerage firm Credit Suisse issued a bullish statement on Tesla’s growth prospects, spurring a stock rally. The on-track China operation and progress achieved with regard to the European expansion added to the positive sentiment. The company is expected to provide updates on its production and delivery guidance at the Battery and Powertrain Investor Day to be held early next year.

Related: Tesla Q3 2019 Earnings Conference Call Transcript

Tesla’s stock gained about 1.5% during pre-market trading on Monday, after closing the previous session higher. The stock has remained on the upward trajectory since the last earnings report.

We’re on Apple News! Follow us to receive the latest stock market, earnings and financial news at your fingertips

Most Popular

INTU Earnings: Intuit reports higher revenue and profit for Q2 2024

Financial technology company Intuit Inc. (NASDAQ: INTU) reported higher adjusted earnings and revenues for the second quarter of 2024. Earnings also exceeded Wall Street's projection. At $3.39 billion, second-quarter revenues

Nvidia (NVDA) looks set to thrive on AI power in the long term

Nvidia Corporation (NASDAQ: NVDA) this week reported blockbuster results for the fourth quarter of 2024, aided by the graphic card behemoth’s booming AI business. The Q4 outcome matched its blowout

What to look for when Lowe’s (LOW) reports Q4 2023 earnings

Shares of Lowe's Companies, Inc. (NYSE: LOW) stayed green on Wednesday. The stock has gained 15% over the past three months. The home improvement retailer is scheduled to report its

Comments

  1. Pingback: Beverly Bultron
  2. Pingback: Lincoln Georgis
  3. Pingback: Lila Lovely BBW
  4. Pingback: MILFCity
  5. Pingback: domain-portfolio
  6. Pingback: organic antiseptic
  7. Pingback: Click Here
  8. Pingback: Click Here
  9. Pingback: Click Here
  10. Pingback: Click Here
  11. Pingback: Click Here
  12. Pingback: Click Here
  13. Pingback: Click Here
  14. Pingback: Click Here
  15. Pingback: Click Here
  16. Pingback: Click Here
  17. Pingback: Click Here
  18. Pingback: Click Here
  19. Pingback: Click Here
  20. Pingback: Click Here
  21. Pingback: Click Here
  22. Pingback: Click Here
  23. Pingback: Click Here
  24. Pingback: Click Here
  25. Pingback: Click Here
  26. Pingback: Click Here
  27. Pingback: Click Here
  28. Pingback: Click Here
  29. Pingback: Click Here
  30. Pingback: Click Here
  31. Pingback: Click Here
  32. Pingback: Click Here
  33. Pingback: Space ROS
  34. Pingback: Click Here
  35. Pingback: Click Here
  36. Pingback: Click Here
  37. Pingback: Click Here
  38. Pingback: Click Here
  39. Pingback: Click Here
  40. Pingback: Click Here
  41. Pingback: Click Here
  42. Pingback: Click Here
  43. Pingback: Click Here
  44. Pingback: Click Here
  45. Pingback: Click Here
  46. Pingback: Click Here
  47. Pingback: Click Here
  48. Pingback: Click Here
  49. Pingback: Click Here
  50. Pingback: Click Here
  51. Pingback: Click Here
  52. Pingback: Click Here
  53. Pingback: Click Here
  54. Pingback: Click Here
  55. Pingback: Click Here
  56. Pingback: Click Here
  57. Pingback: Click Here
  58. Pingback: Click Here
  59. Pingback: Click Here
  60. Pingback: Click Here
  61. Pingback: Click Here
  62. Pingback: Click Here
  63. Pingback: Click Here
  64. Pingback: Click Here
  65. Pingback: invite and earn
  66. Pingback: Click Here
  67. Pingback: Click Here
  68. Pingback: Click Here
  69. Pingback: Click Here
  70. Pingback: Click Here
  71. Pingback: Click Here
  72. Pingback: Click Here
  73. Pingback: Click Here
  74. Pingback: Click Here
  75. Pingback: Click Here
  76. Pingback: Click Here
  77. Pingback: domain-name
  78. Pingback: formation agents
  79. Pingback: Google reviews
  80. Pingback: Aussie Porn Stars
  81. Pingback: 2023 Books
  82. Pingback: death redcords
  83. Pingback: find a grave
  84. Pingback: IRA Empire
  85. Pingback: Student life
  86. Pingback: Life-long learners
  87. Pingback: Biochemistry
  88. Pingback: Faculty Building
  89. Pingback: NAQAEE
  90. Pingback: fue
  91. Pingback: Political Science
  92. Pingback: fue contact
  93. Pingback: Medication safety
  94. Pingback: education system
  95. Pingback: fue contact
  96. Pingback: Msc in dental
  97. Pingback: lean biome
  98. Pingback: Fiverr Earn
  99. Pingback: Fiverr Earn
  100. Pingback: Fiverr Earn
  101. Pingback: Fiverr Earn
  102. Pingback: Fiverr Earn
  103. Pingback: fiverrearn.com
  104. Pingback: fiverrearn.com
  105. Pingback: fiverrearn.com
  106. Pingback: fiverrearn.com
  107. Pingback: prodentim
  108. Pingback: 3pl Broker
  109. Pingback: prostadine
  110. Pingback: red boost buy
  111. Pingback: fiverrearn.com
  112. Pingback: morkie dog
  113. Pingback: Yo.fan approval
  114. Pingback: boat rental cancun
  115. Pingback: frenchie colors
  116. Pingback: Silver earrings
  117. Pingback: future university
  118. Pingback: multisbobet
  119. Pingback: FiverrEarn
  120. Pingback: Fiverr
  121. Pingback: future university
  122. Pingback: lean six sigma
  123. Pingback: Warranty
  124. Pingback: FUE
  125. Pingback: Packing materials
  126. Pingback: Fiverr
  127. Pingback: Streamer
  128. Pingback: partners
  129. Pingback: red boost amazon
  130. Pingback: french bulldog
  131. Pingback: FiverrEarn
  132. Pingback: FiverrEarn
  133. Pingback: FiverrEarn
  134. Pingback: live sex cams
  135. Pingback: live sex cams
  136. Pingback: live sex cams
  137. Pingback: live sex cams
  138. Pingback: FiverrEarn
  139. Pingback: FiverrEarn
  140. Pingback: FiverrEarn
  141. Pingback: FiverrEarn
  142. Pingback: FiverrEarn
  143. Pingback: FiverrEarn
  144. Pingback: FiverrEarn
  145. Pingback: FiverrEarn
  146. Pingback: FiverrEarn
  147. Pingback: Food
  148. Pingback: Kuliah Termurah
  149. Pingback: FiverrEarn
  150. Pingback: FiverrEarn
  151. Pingback: FiverrEarn
  152. Pingback: FiverrEarn
  153. Pingback: FiverrEarn
  154. Pingback: cheap sex cams
  155. Pingback: fullersears.com

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top