Tesla announces capital increase of over five billion dollars

The automaker wants to reduce the debt level and bring new vehicle models onto the market. For this, Tesla is now raising capital again.

The US electric car maker Tesla has announced a capital increase with a volume of five billion dollars. Ten major banks, including Goldman Sachs, Citigroup Global Markets and Morgan Stanley, will sell the shares, the automaker announced. With the fresh capital, Tesla wants to reduce its debt level and bring new vehicle models onto the market.

It is the third capital increase this year after Tesla had already raised a lot of money by issuing new shares. The group from Palo Alto, California is currently investing in various costly projects, including the construction of its first European plant near Berlin, and the development of its vehicles. The capital requirements of the electric car pioneer around star entrepreneur Elon Musk are correspondingly high.

With the capital increase, the company is taking advantage of the most recent record run of its share certificates, which only rose to a record high of almost $ 649 at the start of the week. In the current year 2020 the price has increased almost eightfold.

Author: Nabeel K
Email: nabeel@wheelsjoint.com


Inline Feedbacks
View all comments