Tesla de­liv­er­ing ve­hi­cles to cus­tomers in next 2 months

China Daily (Canada) - - BUSINESS -

Tes­laMo­tors Inc, the elec­tric ve­hi­cle pro­ducer, will deliver pre­vi­ously or­dered cars to cus­tomers in­Hangzhou and Shen­zhen in the next two months. The com­pany is also set­ting up ser­vice cen­ters in the two cities, Bei­jing-based spokes­woman Peggy Yang said. Tesla’sModel S will be priced from 734,000 yuan ($118,000) in China. Stan­ley and Deutsche Bank AG on an ini­tial pub­lic of­fer­ing in the United States, said people with knowl­edge of the mat­ter. The IPO may raise $500 mil­lion to $1 bil­lion, said two of the people, who asked not to be iden­ti­fied be­cause the dis­cus­sions are con­fi­den­tial. China Re­nais­sance Se­cu­ri­ties (Hong Kong) Ltd is also work­ing on the deal, ac­cord­ing to the sources. con­vert­ible notes due in 2019, the Changzhou-based com­pany said on Thurs­day in a state­ment. Net pro­ceeds from an of­fer­ing of 8.8 mil­lion ADRs, each worth 50 or­di­nary shares, to­taled about $92.9 mil­lion at $11 per ADR, the com­pany said in a sep­a­rate state­ment. said on Thurs­day. It will also re­move some fea­tures used in Euro­pean mar­kets, he said.

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