Tesla Raising Cash in Push to Get Model 3 to Masses
At the time, CEO Elon Musk worried some investors when he warned
that Tesla was about to embark on "at least six months of manufacturing hell" as it attempts to get Model 3 production to 5,000 cars per week by December.
Musk said investors should have "zero concern" about whether Tesla will be able to meet its goal of making 10,000 Model 3s per week by next year.
The company said Monday that it planned to offer senior notes due in 2025
and would use the offering’s proceeds to further strengthen its balance sheet during rapid scaling of the Model 3.
PALO ALTO, Calif. — Tesla is raising $1.5 billion as it ramps up production of the Model 3 sedan, its first mass market electric car.
But last week, Musk clarified his comments, and said Tesla should be able to overcome any supplier issues and other potential obstacles.
