EnergyWatch

Tesla boosts credit lines again to aid Elon Musk expansion

Two months ago, Tesla's CEO Elon Musk said that it would not be necessary to increase debt this year. However, the car manufacturer is now raising its borrowing capacity by about USD 500 million, according to a regulatory filing Tuesday.

Photo: Paul Sakuma/AP/Polfoto

Tesla Motors Inc. increased its borrowing capacity under two credit agreements by about USD 500 million – two months after Chief Executive Officer Elon Musk tweeted that raising debt wouldn't "be necessary" before the end of the year.

Tesla, which last month acquired money-losing solar-roof installer SolarCity Corp. for USD 2 billion, boosted a credit line with Deutsche Bank AG by USD 200 million, according to a regulatory filing Tuesday. The company has the potential to add another USD 50 million to that agreement and increased a separate credit facility by another USD 300 million. 

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