Tesla Inc. entered into $30 billion in new credit facilities on Tuesday as it accelerates investments in artificial intelligence and scales up production of Cybercab robotaxis and Optimus robots.

The $30 Billion Credit Package

The facilities include a $20 billion, three-year delayed-draw term loan with Citibank as administrative agent, an $8 billion five-year revolving credit facility, and a $2 billion 364-day revolving facility, both led by Wells Fargo.

Tesla had no borrowings under any of its facilities as of Sept. 29, according to an SEC filing.

The company also terminated its 2023 revolving credit agreement, which had no outstanding borrowings.

Tesla and SpaceX Eye 200 Gigawatts of Solar Production

At a Washington event on Tuesday, CEO Elon Musk said Space Exploration Technologies Corp. and Tesla are aiming to jointly produce 200 gigawatts of solar power per year.

‘Massive CapEx Year’

Tesla is investing heavily in capital expenditure, expecting more than $25 billion this year, as Musk in July described the buildout as “probably the fastest industrial scale-up since World War II in America.”

The company is pouring R&D and pre-production ramp spending on the Cybercab robotaxi, Optimus robot, and Tesla Semi, along with other AI initiatives.

Musk had said Tesla is prioritizing speed over capital efficiency to accelerate projects, even at the cost of efficiency.

Price Action: Shares of the EV maker fell 1.29% on Tuesday to $352.84 and rose 0.37% in extended trading, according to Benzinga Pro.

Benzinga edge rankings indicate Tesla’s stock has a Momentum score in the 16th percentile and a Growth score in the 41st percentile.