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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.
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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.
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