Tesla Motors Inc Obtains $500-750 Million Credit Line Prior To Model X Launch

Tesla Motors Inc. (NASDAQ:TSLA) takes out $500 million worth of credit from five banks, as the electric car manufacturer is adding more cash in its pockets prior to the launch of its upcoming crossover sport utility vehicle Model X. The company released 8-K filing after the markets closed on Friday, stating that the new line of credit can go up to $750 million, "subject to certain conditions." The company will also receive $100 million letter of credit sub facility, along with $40 million swing ...