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
-
Tesla Maxes Out on Tax Credit as U.S. Sales Reach 200,000
Tesla Inc. says it will deliver its 200,000th electric vehicle in the U.S. this month, thereby triggering a phase-out of the $7,500 federal tax credit its vehicles have enjoyed.
-
Toyota Targets 2021 Launch for V2V Tech in U.S.
Toyota Motor Corp. plans to expand its vehicle-to-vehicle communication technology to the U.S. by 2021 and offer it across most Toyota and Lexus models in the country by mid-decade.
-
Feds Probe Another Tesla Crash Involving Autopilot Feature
Federal investigators are looking into another crash involving a Tesla Model S electric sedan that was operating in semi-autonomous mode.