Really like this part… “Yes. The Gigafactory effort is going to go in phases. So our first phase, the CapEx is approximately $45 million, and all-in, we're looking at about $75 million. Now the timing of when we go from the first phase to the last phase, really depends on how quickly the demand ramps up.
Amit Dayal
And of the $75 million, how much do you think will come from these low-cost loans from the government agencies versus how much equity you have to put in?
John Gibson
This is John. So, we're targeting close to 90% to 95% of this being covered by low-cost loans and government grants or other incentives. So, we are targeting very little equity investment from ourselves.
Amit Dayal
Understood. So, should we assume that there is some sort of loan expected to close in the near term to facilitate the build-out?
Dr. Raj DasGupta
Yes. We're currently in discussions with two government-backed debt lenders. So, we're in late-stage discussions. We haven't finalized anything just yet, but we are optimistic we'll have some -- a term sheet with them early 2023.”
Market Data 
Markets 
AI
