Foxconn plans to spend that amount on top of the $1.6 billion it earlier set aside for the 300-acre site close to Bengaluru’s airport, said people familiar with the matter.
Tesla has faced a backlash in the Nordic region from pension funds and labor unions over the company’s refusal to accept a collective bargaining agreement covering wages and other benefits.
Financing probably will take the form of a convertible bond in the coming weeks with the participation of German chemicals giant BASF SE, said CEO Henk van Alphen.
The U.K.’s biggest pharmaceutical firm has agreed to take over the Seattle-based company, which is developing a potential vaccine for two common respiratory diseases