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7 years ago

Tesla says it needs $3 billion to stay in business

Tesla has announced that it will raise $2 billion ($A2.9bn) through debt and selling off shares following reports that its CEO, Elon Musk, had overestimated the ability of the Model 3 to generate enough cash for the company to be self-sustaining.

The dash for cash began late last night when Tesla confirmed it would sell about $650 million ($A930m) in shares, with the rest sold as debt.

Read more -
https://www.motoring.com.au/te....sla-says-it-needs-3-

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