Tesla Secures $30 Billion in Fresh Credit to Expand Cybercab and Optimus Initiatives
Tesla has obtained $30 billion in new credit lines to support the development of its upcoming products, which include the Cybercab robotaxi, the Optimus robot, and the Tesla Semi.
On Tuesday, the company revealed that Citibank has committed to a $20 billion delayed-draw term loan facility over three years. Additionally, Wells Fargo has entered into an $8 billion revolving credit facility for five years, along with a $2 billion revolving credit facility valid for 364 days.
According to Tesla’s regulatory statement, the company does not intend to utilize these loan facilities in the current year. It has already estimated expenditures of at least $25 billion for capital projects by 2026. As of the end of the second quarter, Tesla reported approximately $9 billion in debt, alongside cash and investments exceeding $40 billion.
The new products under development necessitate the establishment of new manufacturing lines. Specifically, for the Semi and the Optimus robot, Tesla has opted to construct dedicated factories.
