Tesla seeks to raise $1.5 billion to fund Model 3 production

Reuters News
Posted: Aug 07, 2017 6:20 AM

(Reuters) - Tesla Inc <TSLA.O> said on Monday it intends to raise about $1.5 billion in a bond offering as the U.S. automaker seeks to fund the production of its newest electric sedan, the Model 3.

Tesla said last week it received more than 1,800 reservations per day for the Model 3 since its launch in late July.

(Reporting by Narottam Medhora in Bengaluru; Editing by Sai Sachin Ravikumar)