48.4 F
Los Angeles
Sunday, Mar 16, 2025

Tesla to Sell Shares

Billionaire Elon Musk’s Tesla Motors Inc. plans to sell 2.1 million shares to raise about $500 million, according to a filing with the Securities and Exchange Commission, Bloomberg reports. Tesla wants to use the money to develop its less expensive Model 3 electric car as well as to develop its battery factory and expand retail operations. The company is not yet profitable.

Featured Articles

Related Articles

Author