Tesla raises cash for Model 3 launch, from Chinese company Tencent
By: +David Herron; Date: April 2, 2017
Tesla Motors has to spend $2.5 billion before July to launch the Model 3. As with the Model S and Model X launches, Tesla Motors is going through deep cash burn for capital expenditures to build up capacity to launch the new model. Making ends meet requires selling stock to raise capital from investors. This time that included Tencent, a large Chinese company. That company is backing a self-driving-car startup, Nio. Tesla Motors is advanced into developing this technology of course, so does Tencent intend to drive a merger? Tencent spent $1.78 billion buying their stake in Tesla.
Tesla Raises Cash for Model 3 Launch
Source: YouTubeMar.28 -- Tesla got a vote of confidence from Tencent, whose purchase of a 5 percent stake boosts Elon Musk’s ambitions to get his mass-market Model 3 electr...
Tencent-Backed Self-Driving Automaker Nio Enters Field Vs. Tesla, Ford
Source: YouTubeTesla ($TSLA), Ford Motor ($F) and other major automakers are already in the self-driving automotive ring, looking to battle it out for drivers (or the lack ...
China's Tencent takes five percent stake in Tesla
Source: YouTubeChina's Tencent Holdings Ltd has bought a five percent stake in US electric car maker Tesla Inc. for 1.78 billion dollars, the latest investment by a Chinese...