In anticipation of the launch of production of the new Model 3, Tesla reported that for the successful implementation of the plan, the company will require approximately $1.15billion. The specified amount is planned to be drawn through the sale of common stock and convertible senior notes.
This statement was expected, as last month, CEO Elon Musk announced that the automaker is on the brink, due to lack of finance. Meanwhile, the received funds will allow the company to stabilize its balance sheet and reduce possible future risks.
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