Tesla has signed an agreement with euros Bank allowing the electric car maker to borrow up to $ 300 m . The funds will be used for Tesla 's vehicle leasing scheme , and are part of a wider effort to to stabilise the company 's finances after spending $ 600 m during fiscal 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 believes the Deutsche Bank agreement would " significantly reduce " the need to borrow vehicles 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.