Tesla has secured $30 billion in new lines of credit that it could use to help scale the new products it is currently working on: the Cybercab robotaxi, the Optimus robot and the Tesla Semi.
The company announced Tuesday that Citibank agreed to a three-year deferred draw term loan facility for $20 billion. Wells Fargo also signed an $8 billion five-year revolving credit facility and a $2 billion 364-day revolving credit facility.
tesla saying in a regulatory filing that it does not plan to draw on these credit lines this year. The company has already projected that it will spend at least $25 billion on capital expenditures by 2026. Tesla ended the second quarter of this year with around $9 billion in debt and a cash pile (and investments) exceeding $40 billion.
These three new products have required new manufacturing lines. In the case of the Semi and Optimus robot, the company has adopted the strategy of building new dedicated factories.