Tesla (TSLA) Model 3: Elon Musk Company Raising $1.15 Billion Ahead Of Launch
March 17, 2017
Tesla Inc. announced Wednesday it was going to the market to raise about $1.15 billion in fresh capital, ahead of the company’s upcoming launch of the Model 3, its “mass-market” sedan expected to hit the roads in the second half of 2017. The money will “strengthen its balance sheet and further reduce any risks associated with the rapid scaling of its business due to the launch of Model 3, as well as for general corporate purposes,” the company said in a statement.