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.

tesla apr 2018

For the car, which has a base price of $ 35,000, the company is currently receiving thousands of pre-orders every day. Tesla had $ 3 billion in cash at the end of June, around $ 1 billion less at the end of March. At the end of July, the first 30 vehicles were delivered to the buyers – all Tesla employees. Tesla has over 450,000 reservations for the vehicle.

The Americans, who are increasingly harassing traditional automakers, had more than doubled their sales in the past quarter, but also made more losses. In addition to investing in a huge battery factory in Nevada, the preparations for the Model 3 launch played an essential role.

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