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
-
Study: How States Should Update Traffic Laws for Autonomous Cars
U.S. states should require that all automated cars have a licensed driver on board, suggests a study by the Governors Highway Safety Assn.
-
Porsche Racing to the Future
Porsche is part of VW Group and it is one of the companies that is involved in putting vehicles on the U.S. market with diesel engines in violation of EPA emissions regulations, specifically model year 2013–2016 Porsche Cayenne Diesel 3.0-liter V6 models.
-
CARB Predicts 10x Hike in Fuel Cell Vehicles by 2024
California expects the number of fuel cell-powered vehicles registered in the state will surge to 23,600 units in 2021 from 4,800 through May of this year and reach 47,200 by 2024.