Tesla is taking out $1.5 billion in debt to fuel its dreams of massive growth
The next part of Tesla's future will be fueled by debt.
Elon Musk's automaker is issuing $1.5 billion in debt to fund its plans. That means that instead of raising funding from investors, the company will offer $1.5 billion of debt a a form of capital.
It's a new move for Tesla, which has always sold off pieces of the company to fund its operations.
Tesla will use this $1.5 billion to strengthen its balance sheet as the company prepares to bring the Model 3 to market, it said in a press release.
Musk suggested this plan could be in the works during a recent earnings call, as pointed out by Business Insider. Read more...
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Tesla is taking out $1.5 billion in debt to fuel its dreams of massive growth
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