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Tesla says no need to raise more capital as Model 3 output scales up

Tesla said first-quarter deliveries totaled 29,980 vehicles, out of which 11,730 were Model S and 10,070 were Model X

Reuters 

Tesla Inc sought to squash any speculation it might need to raise more capital this year on Tuesday, driving the company's battered shares higher as it announced it built 2,020 of its cheaper Model 3 sedans in the last seven days of March. The company's reassurance that it does not need extra cash sent a wave of relief through investors who sold shares of the electric carmaker through a week of bad news about its credit rating and semi-autonomous driving technology. In early trade on Tuesday, Tesla shares jumped as much as 6.9 percent, recouping a third of the past ...

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First Published: Tue, April 03 2018. 21:46 IST
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