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Tesla seeks to raise $1.5 bln to fund Model 3 production

Reuters 

REUTERS - Tesla Inc said on Monday it would raise about $1.5 billion in a bond offering as the U.S. electric car maker ramps up production of its newest sedan, the Model 3.The debt offering marks Tesla's debut in the junk-bond market and the company will start roadshows on Monday, IFR reported, citing lead bankers on the deal.Elon Musk-led Tesla is counting on the Model 3, its least pricey car, to become a profitable, mass market manufacturer of electric cars.Pre-orders for the Model 3, which has a $35,000 base price, have surpassed half a million, averaging about 1,800 per day since its ...

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First Published: Mon, August 07 2017. 18:47 IST
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