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Musk Wants Chinese Banks to Finance His New Tesla Factory

Aug. 8, 2018, 12:43 PM

Elon Musk’s shocking $82 billion offer to buy out the loss-making Tesla Inc. has the market wondering just how he will find the cash. But when it comes to his grand plans to build electric cars in China, he already has the answer: the nation’s state-owned banks.

With a factory just outside of Shanghai key to Musk’s vision of making inroads in the world’s biggest electric-vehicle market and finally making Tesla profitable, the company has enlisted the city’s government as an ally.

Shanghai authorities are helping Tesla obtain loans from some of the biggest Chinese banks, according to...

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