Tesla Motors (NASDAQ:TSLA) prepares for its launch of the European left hand drive Model S in March 2013 by setting up a 62,000 sq. ft. facility in Tilburg, Netherlands, which will serve as its service and parts headquarters as well as the final assembly and distribution for Model S vehicles sold in Europe.
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LDK Solar Co Ltd (NYSE:LDK) announces it has entered into discussions with certain creditors to obtain additional flexibility with respect to the terms and conditions of its existing offshore indebtedness, as it continues to work to address its liquidity and working capital concerns. Citigroup has been hired to assist in the process.
The Chinese government moves to assist embattled solar companies by allocating about $2 billion in subsidies and doubling its target for solar installations. Previously, the government made available loans to the solar industry through the China Development Bank Corp. The market has interpreted these moves by the Chinese government as very favourable for solar stocks: Yingli Green Energy Hold. Co. Ltd. (NYSE:YGE) +20.99%, ReneSola Ltd. (NYSE:SOL) +17.61%, Suntech Power Holdings Co., Ltd. (NYSE:STP) +11.11% and JinkoSolar Holding Co., Ltd. (NYSE:JKS) +12.95%.
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