Tesla has secured a loan of $1.29 billion from a group of four Chinese lenders that it will use for its car factory in Shanghai, Reuters reports , citing a regulatory filing. The filing comes as Tesla scored another win on the Chinese market : the Model 3 that is manufactured in the country was ruled eligible for exemption from a 10-percent sales tax by the Chinese authorities, according to a Bloomberg report . The move is bound to push local sales higher, especially as it comes after another piece of good news for the EV maker: earlier this month, the Chinese Ministry of Industry added the locally made Model 3 to its list of subsidy-eligible EVs. This means the Chinese-made Model has been given the greenlight to be sold on the Chinese market, Tesla said in a tweet quoted by Electrive.com. Tesla’s foray into China is a foray […]