Tesla says it may seek alternative financing sources GlobeTechnology
Jefferson Siegel/The New York Times News Service
Wall Street has been looking for more details after Chief Executive Officer Elon Musk suggested last week that a capital raise could be imminent as the electric vehicle maker posted a $700-million loss for the first quarter. Many analysts had predicted the company would need to raise funds for its expansion, including the Shanghai factory, the upcoming Model Y SUV and other projects.
Tesla has $2.2-billion in cash and expects capital expenditures of about $2.5-billion to $3-billion annually for the next two fiscal years. The company’s total debt stood at $10.33-billion as of March 31.
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