Tesla looking for another 1,5 billion dollar
American electric car maker Tesla is looking for another 1,5 billion dollar on the financial market to finance the production of the Model 3 of which some 455.000 are already pre-ordered by clients. To do this Tesla will issue bonds with a term of eight years.
A week ago the first 30 Tesla Model 3 cars were delivered to buyers from its own staff in Fremont (California). Founder and CEO Elon Musk said Tesla’s staff will go “the next six months through a hell” to meet production goals.
These goals had to be downsized already to 100 cars build in August 2017, 1.500 in September and 20.000 in December. In 2018 Tesla hopes to deliver 500.000 cars before reaching a million in 2020.
At the end of the first quarter Tesla was still sitting on a pile of cash of 3 billion dollar, but by the end of the second quarter 1,16 billion was already burnt. The second half of this year Tesla will spend 2 billion for the production of the Model 3.