image source: The mercury
There are so many eyes on Tesla's financial position as the company insists that there are no plans to raise more money this year and instead, it plans to turn the profit. Now the company has increased the 1.1 billion $ warehouse loan agreement, which finance's the company's growing list.

Report of vehicle lease Warehouse Agreement

On August 16, 2018, certain subsidiary of Tesla, Inc. ("Tesla") that are respectively parties to (i) an Amended and Restated Loan and Security Agreement (the "A & R 2016 Warehouse Agreement") and (ii) a Loan and Security Agreement (the "2017 Warehouse Agreement," and together with the A & R 2016 Warehouse Agreement, the "Warehouse Agreements"), each dated August 17, 2017 with Deutsche Bank AG, New York Branch as the administrative agent and other parties named therein, entered into an amendment to each of the Warehouse Agreements (together, the "Amendments")
Among other changes, the Amendments extended the borrowing availability date under the Warehouse Agreement from August 17, 2018 to August 16, 2019 and the expanded date of the warehouse agreement of September 2019 to September 2020. The aggregate loan commitment, which is shared between The Warehouse Agreements, remains unchanged at $ 1.1 billion.

With the updated agreement, Tesla will have to access to the 1.1 billion $ warehouse loan agreement for another year. Last year, Tesla increased its borrowing capacity to 500 million $ under the agreement. The agreement has been financing Tesla’s inventory and lease program, which has become increasingly important in recent years.

Model 3 is still not available under Tesla's lease program because it will increase the Tesla cash requirements, which the company is trying to be limited because it attempts to be profitable by the end of the year. In the last quarter, Tesla dropped by more than 700 million $. The automaker still had cash and cash equivalent of 2.2 billion $, but it also had 10 billion $ in long-term debt.

Due to money shortage, Elon Musk wants to change things during the second half of the year by earning profit.

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