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Tesla has secured $30 billion in new credit lines that could help it scale new products it’s currently working on: the CyberCab Robotaxi, the Optimus robot and the Tesla Semi.
The company announced Tuesday that Citibank has agreed to a $20 billion three-year deferred-draw term loan facility. Wells Fargo also signed an $8 billion five-year revolving credit facility and a $2 billion revolving credit facility with a term of 364 days.
Tesla said in a regulatory filing that it does not plan to take on these debt facilities this year. The company already estimates it will spend at least $25 billion in capital expenditures through 2026. Tesla ended the second quarter of this year with nearly $9 billion in debt and a pile of cash (and investments) north of $40 billion.
All three new products require new production lines. For the Semi and Optimus robots, the company has taken the approach of building new dedicated factories.
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