Tesla announces another billion-bond

Tesla-Model-3

The electric car company Tesla wants to get in the midst of production expansion for its first cheaper model more money on the market.

The electric car pioneer Tesla wants to raise about $ 1.5 billion on corporate bonds. The company announced the issuance of unsecured debt securities maturing in 2025. Financial details such as the interest rate are yet to be determined. This would give the Palo Alto-based company greater financial flexibility to ramp up production of the Model 3, which Tesla intends to enter the mass market.

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