Deutsche Bank has signed an agreement with Tesla allowing the electric car maker to borrow up to $300m. The funds will be used for Deutsche Bank's vehicle leasing programme, and are part of a wider effort to to stabilise the firm's finances after spending $600m during H1 2016. Deutsche Bank is feeling the pressure ahead of the Model 3 launch next year, while the planned acquisition of SolarCity for $2.6bn adds to its financial worries. Deutsche Bank said the Tesla agreement would "significantly reduce" the need to raise money from the public market.
Tesla has signed an agreement with Deutsche Bank allowing the electric car maker to borrow up to $300m. The funds will be used for Tesla's vehicle leasing programme, and are part of a wider effort to to stabilise the firm's finances after spending $600m during H1 2016. Tesla is feeling the pressure ahead of the Model 3 launch next year, while the planned acquisition of SolarCity for $2.6bn adds to its financial worries. Tesla said the Deutsche Bank agreement would "significantly reduce" the need to raise money from the public market.