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Tesla May Launch New Funding Drive
Tesla Motors Inc. says in a regulatory filing it may need a “small equity capital raise” next year to help fund its huge battery factory and the launch of its Model 3 electric car, Reuters reports.
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Tesla Motors Inc. says in a regulatory filing it may need a “small equity capital raise” next year to help fund its huge battery factory and the launch of its Model 3 electric car, Reuters reports.
Tesla has about $2 billion in cash, the news service says. It notes the company told analysts earlier this year it will spend nearly $1.8 billion in the second half of 2016 on plants and equipment.
In the meantime, the company continues to burn cash. It also is acquiring SolarCity Corp., the money-losing solar panel company. Tesla has reported a negative cash flow for more than two years, along with an operating loss for the past 14 consecutive quarters.
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