Tesla lines up $30 billion in credit lines as capex, AI push accelerate
TSLA•Tesla entered into credit agreements totaling $30 billion, including a $20 billion delayed draw-term loan facility, as it expects record spending this year. The company said it had no borrowings under the new facilities as of September 29 and does not currently plan to draw on them in 2026.
1. Credit facilities
Tesla also secured an $8 billion five-year revolving credit facility and a $2 billion 364-day revolving credit facility. It replaced a $5 billion revolving facility due in January 2028, which had no outstanding borrowings when terminated.
2. Spending plans
Tesla expects to direct much of its record spending this year toward AI compute infrastructure, solar cell-manufacturing capacity, a semiconductor fabrication project with SpaceX and other expansion areas. Earlier this year, the company forecast 2026 capital expenditure of more than $25 billion, after spending $8.53 billion in 2025.
3. Solar production target
CEO Elon Musk said Tuesday that SpaceX and Tesla are aiming for 200 gigawatts of solar production per year. Analysts expect Tesla to post negative free cash flow of $9.78 billion, based on data compiled by LSEG.
