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Tesla Lines up $30 Billion Credit Lines as Capex, AI Push Accelerate
The electric-vehicle maker said it will not draw on the facilities this year as it prepares for more than $25 billion in 2026 capital spending.
On Tuesday, Tesla secured $30 billion in new credit lines, including a $20 billion delayed-draw term loan facility from Citibank, to fund scaling of its Cybercab, Optimus, and Tesla Semi production.
Rising capital expenditures and falling profits prompted the financing; Tesla reported negative free cash flow for the first time since Q1 2024, with profits declining in recent years.
Wells Fargo also signed an $8 billion five-year revolving credit facility and a $2 billion 364-day revolving credit facility, while Tesla replaced a previous $5 billion revolving credit agreement.
Tesla stated in a regulatory filing that it has no borrowings outstanding under these new facilities as of September 29 and does not currently plan to draw on them during 2026.
Management previously projected at least $25 billion in 2026 capital expenditures targeting AI compute infrastructure and solar cell manufacturing, more than triple the $8.53 billion spent in 2025.