Tesla Seeks $2.3 billion Fund Expansion
On Thursday Tesla renounces what Elon Musk called a “Spartan diet” and will raise up to $2.3 billion in new capital. Reuters reports that this is easing Wall Street concerns about the money-losing company’s ability to overcome a drop in sales and build new product lines. Tesla’s plan to issue debt and convertible shares comes after the company repeatedly pushed back forecasts for turning a profit. The company faces expensive challenges, including launching production in China, overhauling its U.