Tesla Gets $300 Million Credit Line From Deutsche Bank by Reuters @FortuneMagazine September 7, 2016, 7:53 PM EDT E-mail Tweet Facebook Linkedin Share icons Tesla can borrow up to $300 million for its vehicle leasing program through an agreement with Deutsche Bank as part of a broader effort to bolster the company’s finances. In a filing with the U.S. Securities and Exchange Commission, Tesla said the new liquidity meant its own cash requirements for its direct leasing program would be “significantly reduced.” As a result, Tesla tsla can raise fewer funds from the public market as it gears up for its much-anticipated Model 3 mass-market vehicle. The amount outstanding from the loan and security agreement is due on Sept 20, 2018. Tesla, which burned through over $600 million of cash in the first half of the year, faces a cash crunch as it ramps up manufacturing capacity for the Model 3 next year and completes construction of its massive “Gigafactory” battery factory in Nevada. Elon Musk says $2 billion stock selloff isn’t linked to recent crash Tesla’s planned $2.6 billion acquisition of SolarCity, which itself has pressing cash needs, will add to its liquidity issues. Combined, the two companies’ debt totaled $5.43 billion with a combined cash burn of $830 million last year. Tesla said in previous SEC filing that it plans to raise additional money this year to help fund development and production of its new Model 3 sedan and build out a giant battery factory. In August, the company said it had $3.25 billion in principal sources of liquidity as of June 30, 2016, but in July it repaid $678 million on a revolving credit line and planned to redeem $411 million of 2018 convertible notes, warning it could spend more on the securities. The company also warned that the value of its secured assets had limited its ability to borrow under its asset-based revolving credit agreement with a syndicate of banks.