Tesla has revealed in Securities and Exchange Commission filing that it intends to sell $2 billion worth of stock in order to speed up the production of the new Tesla Model 3.
The Tesla Model 3 recently went up for pre-order and the company received close to 400,000 orders for their new EV which costs around $35,000 before rebates.
The first Model 3 cars are expected to launch in 2017 and Tesla is raising the extra funds though a stock sale to speed up production of the car and also ensure that it can meet demand.
It is important for Tesla to deliver all of those Tesla Model 3 cars to their customers, if the company is unable to get them into the hands of people who have pre-ordered them then it could cause major problems for the company.
Source LA Times
Filed Under: Auto News