Tag: 1.15 billion

Tesla to raise $1.15 bn to help fuel production of Model 3 electric car

SAN FRANCISCO, United States (AFP) — Tesla on Wednesday announced plans to raise $1.15 billion in new funding to help fuel production of a mass market-targeted Model 3 electric car set for release this year. Tesla said that it planned to offer $250 million in common stock and $750 million in convertible notes, with underwriters being given the option to buy an additional 15 percent of each offering. Tesla co-founder and chief executive Elon Musk […]