Shares of Tesla (TSLA) are extending their recent rally after the company told media outlets that it will begin delivering Model 3 vehicles built at its Shanghai factory in China on Monday.
In addition, China's Ministry of Industry and Information Technology on Friday said it had added Tesla's China-made Model 3 to a list of new energy vehicles exempt from purchase tax.
Tesla last night also disclosed that it entered into agreements with a syndicate of lenders in China for a secured term loan facility of up to RMB 9.0B and an unsecured revolving loan facility of up to RMB 2.25B, in each case to be used in connection with its Gigafactory Shanghai. Shares of Tesla in premarket trading are up $3.03, or 0.70%, to $433.96.
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