Tesla closes $2.7bn offering as it raises cash to fuel expansion plans May 8, 2019 Electric car company Tesla said today it had closed its $2.7bn (£2.08bn) offering of stock and convertible notes in an offering it said was oversubscribed. The fundraise gives Tesla some much needed cash as it tries to boost production. Tesla sold about $1.84bn in debt and $860m shares, with underwriters exercising their option to buy [...]
Revealed: Elon Musk’s half-a-billion dollar debt to banks helping Tesla fundraise May 3, 2019 Tesla boss Elon Musk personally owes $507m (£389m) to the Wall Street banks helping the electric car firm raise up to $2.3bn, it emerged yesterday. Read more: Tesla looks to strengthen with $2.3bn fundraising round The lending was disclosed in a Tesla prospectus for the fundraising, and showed the debt to be $117m less than [...]
Tesla looks to strengthen with $2.3bn fundraising round May 2, 2019 Tesla will look to raise around $2.3bn (£1.76bn) by issuing new shares and debt, with chief executive Elon Musk pitching in $10m of his own cash to buy shares. The electric car maker said this afternoon it has filed with regulators to launch the fundraising, after it lost $700m in the first three months of [...]
Tesla: Nice cars, shame about the bottom line? April 26, 2019 Tesla has just announced its first-quarter financial results, and I’m surprised to see the headline figures aren’t good: a loss of $702 million, and an expectation that the company will bear further losses in Q2 (before, it claims, returning to profit in the third quarter). Reading deeper into the detail, Tesla’s cash reserves plummeted by [...]
Tesla pledges a return to black as profitability fails to materialise April 25, 2019 A return to profit escaped Tesla chief Elon Musk for a second consecutive quarter last night. The electric car maker reported a widening $494m (£382.5m) loss after a record drop in deliveries. Tesla posted a deficit per share of $2.90 for the first three months of 2019, compared to the average analyst estimate of a [...]
Elon Musk predicts Tesla will launch a robotaxi service in 2020 April 23, 2019 Elon Musk has promised Tesla will be able to produce so-called robotaxis with no human drivers in parts of the US as soon as next year. Read more: Tesla investigating incident of car catching fire in Shanghai In a webcast ahead of the firm’s quarterly results this week, the outspoken chief executive said its driverless [...]
Tesla investigating social media video of one of its cars catching fire in Shanghai April 22, 2019 Electric car marker Tesla has said it is investigating a video that is circulating on Chinese social media which appears to show one of its most popular vehicles catching fire. The video shows a stationary Tesla car, identified as the Model S, erupting into flames while in a car park in Shanghai on Sunday evening. Tesla [...]
Four Tesla directors to leave company in board streamlining April 20, 2019 Tesla has announced that four of the eleven members on its board will be leaving the company over the next two years in a move to increase efficiency. In a regulatory filing, the company said that Brad Buss, Antonio Gracias, Stephen Jurvetson, and Linda Johnson Rice would not be standing for re-election in the annual meetings [...]
Elon Musk channels a sheep as he and English Rural Life museum swap pictures April 18, 2019 The Museum of English Rural Life has adopted Elon Musk's Twitter display picture, after the Tesla CEO decided to take their sheep image and start answering tweets about Tesla cars with sheep puns. Now visitors to the page of the Museum of English Rural Life will be greeted with Musk's face in a joke that continues [...]
Let’s take the lead on ethical marketing April 16, 2019 When the Initial Coin Offering (ICO) hype hit fever pitch in 2017 projects were selling hopes and dreams as they if they were just around the corner, and this ‘blockchain’ thing was about to change our lives forever. It changed many people’s lives for the better, and made a lot of millionaires – but not [...]