Tesla shares rose on news from China and Germany

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Tesla investors (TSLA) received two positive news, after which the shares of the electric car manufacturer rose on Monday.

Over the past six months, Tesla shares have jumped 81.36%.

Over the weekend, Bloomberg reported that Tesla was close to buying a 300-hectare plot near Berlin in Grünheide. The government reportedly agreed to a contract and Tesla has already submitted the necessary documents to local environmental monitoring authorities that describe the impact of the factory’s construction, which is a necessary step to obtain a building permit.

Marketinfo.pro wrote about Tesla’s plans to build a plant in Germany in the article “Tesla intends to build a plant and a design and development center in Germany”.

According to statements gene. Tesla Director Ilon Mask, the company plans to produce at the Gigafactory Europe factory the budget Model 3, preparing for the release of Model Y, as well as batteries for electric vehicles.

The company expects its German plant “outside of Berlin to create 10,000 jobs and produce 500,000 cars a year when it is fully launched.”

New Opportunities for Chinese-Made Tesla

On Monday, Reuters, citing its sources, reported that Tesla received a five-year loan of $ 1.4 billion from a group of banks in China, which will help the manufacturer increase production at its plant in Shanghai. In addition, Tesla received a lower interest rate on the new loan. Part of these funds will be used to repay the previous loan, details may be announced this week.

The Shanghai government has strongly supported the construction of the Tesla factory, which will be the first Chinese car factory to be wholly owned by a foreign company.

The company announced Shanghai Gigafactory’s goal of producing 1,000 Model 3 sedans each week, which will be sold in the largest automotive market in the world.

The number of registered new Tesla cars in China rose to a five-month high of 5597 in November, compared with 393 a year earlier, state-sponsored China Automotive Information Net reports.

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