Tesla Secures $500 Million In New Borrowing Capacity From Lenders

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As part of its rapid expansion push following an unprecedented number of $1,000 deposits for the Model 3, Tesla has secured a further $500 million in borrowing capacity from its lenders through newly amended agreements, according to recent reports.

As a reminder, Tesla is currently claiming that large-scale deliveries of Model 3 sedans will have begun by this time next year. Mass production is slated to begin by late summer, going by the company’s timeline.

Another important reminder: for the company’s Model 3 production timeline to be achieved, it’s not just a matter of getting production processes at its Fremont facility up to snuff, but also of getting the Gigafactory’s battery production ramped up. There are a lot of things that need to be coordinated.

Automotive News provides more on the new/increased funding: “The parent company and a Netherlands subsidiary on December 15 increased a revolver line by $200 million to $1.2 billion through Deutsche Bank AG, with potential to add another $50 million, Tesla said in a regulatory filing Tuesday. Tesla Finance LLC and another finance unit doubled the size of a separate credit facility to $600 million, the filing said.”

Good news for the company. Though, very unsurprising — after all, the company currently holds a very good hand, despite what paid shills might type, but also needs to expand quickly. The company’s situation could change in the future, though. … Late 2017 and early 2018 should be very interesting as an observer.

Image by Michael Liebreich / BNEF

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James Ayre

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

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