Tesla is going to get funding from investors despite earlier statements by CEO Elon Musk that it is unnecessary. The maker of electric cars is aiming for around 2 billion dollars with the issue of shares and bonds.
Musk repeated several times last year that Tesla does not need any additional capital. He changed tone last week after the Tesla money box shrank to $ 2.2 billion in the first three months of this year, the lowest level in three years.
Tesla stands for substantial investments in its planned smaller SUV, the Model Y, and for its factory in China. The company wants to raise a total of 650 million dollars in shares and 1.35 billion dollars in convertible bonds. Musk is willing to buy itself 10 million dollars worth of shares.
The American car manufacturer closed the past quarter with a loss. The car manufacturer said it had to deal with “unforeseen circumstances”, as a result of which fewer vehicles rolled off the tire than planned.
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