Tesla Secures $30 Billion In Credit Lines To Scale New Products
· Business · TechCrunch, Bloomberg, Reuters
Tesla has secured $30 billion in fresh credit lines to help scale the production of its upcoming products, including the Cybercab robotaxi, Optimus robot, and Tesla Semi. Citibank agreed to a $20 billion three-year delayed-draw term loan facility, while Wells Fargo signed an $8 billion five-year revolving credit facility alongside a $2 billion revolving credit facility with a 364-day term. The electric vehicle maker stated in a regulatory filing that it does not plan to draw on these loan facilities this year. Tesla previously projected capital expenditures of at least $25 billion for 2026. The company finished the second quarter with approximately $9 billion in debt and more than $40 billion in cash and investments.
Why it matters
The massive credit lines provide Tesla with substantial financial firepower to build out dedicated manufacturing factories for its autonomous and robotics ventures.
Read the original report — TechCrunch
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