Ready to Exit China? Tesla Pays Off $614 Million Loan for Its Shanghai Factory

An aerial view of Tesla Shanghai Gigafactory in Shanghai, China on March 20, 2021. Tesla Shanghai Gigafactory is reportedly producing vehicles at a rate of about 450,000 cars per year. Xiaolu Chu/Getty Images

News Analysis

Tesla has recently repaid in full the $614 million loan for the construction of its Gigafactory 3, a super factory located in Shanghai. After the news broke out, the rumor that Tesla may be preparing to leave the Chinese market spread fast on social media.