Tesla secures $30B in new credit lines as it looks to scale Cybercab, Optimus
The company says it won't draw on the new debt facilities this year, as it has already planned at least $25 billion in capital expenditures.
Tesla has secured a staggering $30 billion in new credit lines to aid in the development and scaling of its latest products: the Cybercab robotaxi, the Optimus robot, and the Tesla Semi. The company revealed on Tuesday that Citibank has agreed to a $20 billion, three-year term loan facility, with repayment beginning at a later date.
Wells Fargo has also signed an $8 billion, five-year revolving credit facility, while a $2 billion revolving credit facility with a 364-day term was established with another financial institution. In a regulatory filing, Tesla disclosed that it does not intend to utilize these loan facilities in the current year. The company has projected that it will invest at least $25 billion in capital expenditures for 2026.
At the end of the second quarter, Tesla was sitting on around $9 billion in debt and a substantial cash reserve of over $40 billion. All three of these innovative products necessitate the construction of new manufacturing lines. For the Semi and the Optimus robot, Tesla has opted to establish separate, dedicated factories to meet the increasing demand.
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