Mexican Media Brands
Tesla Lines Up $750 Million in Credit
Tesla Motors Inc. has arranged a revolving line of credit with five banks for as much as $750 million, according to a regulatory filing late Friday.
#regulations #hybrid
Share
Tesla Motors Inc. has arranged a revolving line of credit with five banks for as much as $750 million, according to a regulatory filing late Friday.
The asset-backed credit line is for $500 million but can be extended if the company meets certain performance conditions.
Tesla burned through more than $500 million in January-March preparing to launch the Model X crossover electric vehicle later this year. Tesla expects to begin generating free cash flow in October-December, but a production delay for the Model X would drain much of its current cash supply.
RELATED CONTENT
-
Takata Recalls Another 3.3 Million Airbag Inflators in U.S.
More than a dozen carmakers are preparing to recall another 3.3 million vehicles in the U.S. to replace Takata Corp. airbag inflators that could explode in a crash.
-
Seniors, Pollution and Exercise
People who are opposed to stricter emissions regulations, especially those who are over 60, may be interested in learning about a research study led by the Imperial College London and Duke University, funded by the British Heart Foundation—even healthy +60 people.
-
U.S. in No Hurry to Regulate Autonomous Vehicles
The National Highway Traffic Safety Administration says the emerging technology involved in self-driving cars is too new to be tightly regulated.