Tesla is looking to raise $1.5 billion in a bond offering as it’s planning to ramp up production of the Model 3.
The electric car company already has around half a million pre-orders on the Model 3’s waiting list, with Elon Musk saying that the next six months will be “production hell” for the company.
“Tesla intends to use the net proceeds from this offering to further strengthen its balance sheet during this period of rapid scaling with the launch of Model 3, and for general corporate purposes”, the company said in a statement.
Read Article