Tesla delivering considerably more Model 3’s in California
Tesla’s vehicle deliveries in California have climbed a satisfying 139.4% in the second quarter of the year, which is particularly tied to the Model 3 production. Of the 18,440 Model 3’s produced during the period, 8,951 were delivered to customers in California.
This is financially sound, as the manufacturer receives Califronia’s ZEV credits, which they can sell to other manufacturers, as they do not have any combustion vehicles to equalize for. The move will likely help Tesla achieve their planned profitability within the next months.
A few days ago, Tesla also announced in an SEC filing, that the credit line from the Deutsche Bank valued at 1.1 billion dollars is being extended by another year. This will help Tesla finance their leasing service, which they are still working on. In October last year, the credit line was extended from the then 500 million to the current 1.1 billion dollars.