Tesla announced on Tuesday that it secured $30 billion in fresh credit lines. The funding will support the company as it scales new products currently in development.
Citibank agreed to a $20 billion three-year delayed-draw term loan facility. Wells Fargo signed an $8 billion five-year revolving credit facility and a $2 billion revolving credit facility with a 364-day term.
New credit supports product scaling
Tesla intends to use the capital to help scale the Cybercab robotaxi, the Optimus robot, and the Tesla Semi. All three products require new manufacturing lines.
For the Semi and the Optimus robot, Tesla built out new dedicated factories. These heavy investments require substantial financial backing.
Tesla plans to hold loans for now
Tesla stated in a regulatory filing that it does not plan to draw on these loan facilities this year. The company projected capital expenditures of at least $25 billion for 2026.
Tesla finished the second quarter with approximately $9 billion in debt. At the same time, the company held a cash and investments total exceeding $40 billion.
