Still, the big news – that is, something that's actually happened, not just bloviations about the future – is that Tesla raised more than a billion dollars in cash last week by increasing the amount of debt and equity it was offering. Instead of selling a total 2.7 million common shares, CEO Elon Musk put up 3.39 million, and bought $100 million himself. This showed confidence, which was admittedly already there, and Tesla raised far more than the $830 million originally expected. The money will be used, in part, to pay back the US government for the $465-million Department of Energy loan.
"There is a fundamental view of a scenario where Tesla becomes the next GM or Ford."
The good news prompted an unnamed banker to tell IFR what it looks like on the other side of the skepticism spectrum: "[CEO Elon] Musk has a vision of creating a $50 billion-plus company in five years," adding, "There is a fundamental view of a scenario where Tesla becomes the next GM or Ford."
*UPDATE: Musk just Tweeted that Tesla will likely pay back the DOE loan Wednesday.