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Tesla set to pay for chips in advance to overcome shortage - FT

May 26 (Reuters) - Tesla Inc plans to pay in advance for chips to secure its supply of the crucial materials in a move to overcome the global chip shortage, the Financial Times reported on Wednesday, citing people familiar with the matter.

The electric-car maker is also exploring buying a plant as a part of the efforts, according to the report. (on.ft.com/3flWwFU)

Tesla could not immediately be reached for comment. (Reporting by Sahil Shaw in Bengaluru; Editing by Shounak Dasgupta)

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