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Tesla received $30 billion in new credit lines that it could use to scale new products it is currently working on: the Cybercab robotaxi, the Optimus robot and the Tesla Semi.
The company announced Tuesday that Citibank has agreed to provide a three-year, deferred credit facility worth $20 billion. Wells Fargo also signed a five-year, $8 billion revolving credit facility and a $2 billion, 364-day revolving credit facility.
In a regulatory filing, Tesla said it does not plan to use those credits this year. The company had already projected it would spend at least $25 billion on capital expenditures in 2026. Tesla ended the second quarter of this year with roughly $9 billion in debt and a pile of cash (and investments) exceeding $40 billion.
All three new products required new production lines. In the case of the Semi and Optimus robots, the company took the approach of building new specialized factories.
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