Tesla Secures 30 Billion in Credit Lines
Tesla secured thirty billion dollars in new credit facilities to fund its expanding artificial intelligence infrastructure and manufacturing projects. The electric vehicle maker does not plan to draw on the funds this year.
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TESLA INC lined up $30 billion in new credit lines on Tuesday afternoon, funding an accelerated push into AI compute and solar manufacturing. The financing package replaces an older $5 billion revolving credit facility that matured with no outstanding borrowings. The automaker faces rising capex demands as it scales joint manufacturing projects with SpaceX.
