Tesla, Deutsche Bank Agree on Lease Credit Line

Shares of Tesla Motors (TSLA) - Get Report were lower Thursday after announcing that it has entered into an agreement with Deutsche Bank in which the electric car maker can borrow up to $300 million for its electric car leasing program. Tesla said the new liquidity means its own cash requirements for its direct leasing program would be 'significantly reduced.' This means that the company would need to raise correspondingly less funds from the public market as it prepares for its Model 3 mass-market car, according to Reuters.

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