Elon Musk, chief executive officer of Tesla (Centre) with Robin Ren, vice-president of sales, second left, Ying Yong, mayor of Shanghai, second right, and Wu Qing, vice mayor of Shanghai, right, at an event at the company’s manufacturing facility in Shanghai in January 2019. Photo: Bloomberg

Tesla gets preferential rates on US$1.61 billion of loans from Chinese banks as Shanghai plant prepares to roll out Model 3 electric cars next week

  • China courts Tesla with incentives as nation gears up for global leadership in new energy sector
  • Tesla’s Gigafactory 3 plant near Shanghai is due to roll out the first batch of Model 3 to employees on Monday
Topic |   Banking & Finance

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Elon Musk, chief executive officer of Tesla (Centre) with Robin Ren, vice-president of sales, second left, Ying Yong, mayor of Shanghai, second right, and Wu Qing, vice mayor of Shanghai, right, at an event at the company’s manufacturing facility in Shanghai in January 2019. Photo: Bloomberg
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Daniel Ren

Daniel Ren

Daniel Ren is the SCMP's Shanghai bureau chief. A Shanghai native, Daniel joined the SCMP in 2007 as a Business reporter.