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
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