Tesla has secured $30 billion in new credit facilities from Citibank and Wells Fargo to scale the Cybercab, the Optimus humanoid and the Semi truck, and it told lenders it does not plan to draw on any of it in 2026.
The structure is three loans. Citibank is providing a $20 billion three-year delayed-draw term loan. Wells Fargo is providing an $8 billion five-year revolving credit facility and a $2 billion 364-day revolver. Delayed-draw means the money is committed but not funded until Tesla asks for it, so the cost to Tesla today is the commitment, not the debt.
The balance sheet explains why the cushion is optional. As of Q2, Tesla held more than $40 billion in cash and investments against about $9 billion of debt. It has also budgeted at least $25 billion of capital expenditure for 2026. Translated, the company is buying insurance for a build-out it can already fund.
The build-out is physical. TechCrunch reports that all three products need dedicated manufacturing, with separate factories planned for the Semi and for Optimus. The Cybercab, which launched in Austin on September 3, was removed from Tesla’s 2026 volume-production list in July. The company’s own July letter named battery pack capacity as the main limiting factor, and said it is expanding 4680 cell output. Texas has authorized 45 Cybercabs for driverless operation.
What the coverage does not say is when any draw would come, what the facilities cost in fees, or how much of the $25 billion goes to which product. Those are the numbers that would show whether $30 billion is a safety net or the first tranche of a larger plan.
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