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. 

SEE ALSO: Elon Musk talks of his life's 'highs' and 'lows' in a few painfully honest tweets

Musk suggested this plan could be in the works during a recent earnings call, as pointed out by Business Insider.  Read more...

More about Tech, Tesla, Elon Musk, Model 3, and Business

http://ift.tt/2wM38oa from Tech http://ift.tt/2vStIze
via IFTTT