|
|
Article: Tesla Motors Receives $40 Million Financing Commitment.
- Article from:
- Business Wire
- Article date:
- November 3, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Financing Will Accelerate Roadster Manufacturing and Expand Powertrain Supply Business
SAN CARLOS, Calif. -- The board of directors of Tesla Motors Inc., the nation's leading electric vehicle manufacturer, has approved $40 million in convertible debt financing, based on commitments from almost all current major investors. The round will also be open to smaller current investors.
The financing will be used primarily to accelerate manufacturing of the Tesla Roadster, an all-electric, high performance sports car. In addition, the funds will be used to expand Tesla's electric powertrain supply business and continue future product development.
...