It's no secret that Tesla Motors is working on an electric SUV/CUV called the Model X. In fact, back in October, Tesla chief executive officer, Elon Musk, told Green Tech Media that the automaker aims to unveil a prototype of the SUV/CUV by the end of 2011, with production tentatively scheduled for 2014.
However, Tesla apparently needs some cash to fund development of the Model X. The Silicon Valley automaker is seeking additional capital to bring its third zero-emission vehicle – after the Roadster and Model S – to life. During a recent earnings call, Musk reportedly stated:
[Source: Venture Beat, Road and Track]
However, Tesla apparently needs some cash to fund development of the Model X. The Silicon Valley automaker is seeking additional capital to bring its third zero-emission vehicle – after the Roadster and Model S – to life. During a recent earnings call, Musk reportedly stated:
Production of the Model S is slated for mid-2012 and Tesla claims to have 4,600 reservations – each requiring a deposit of $5,000 – for the electric sedan. But, even with $23-million worth of customers waiting for the Model S, Tesla is reportedly toying with the notion of "selling additional equity to help ramp up production of the Model X." Anyone interested?We do have enough capital to reach cash-flow positive without raising another dollar. There's a decent chance we will raise a secondary for the Model X activity and some additional potential headroom growth on the Model S production.
[Source: Venture Beat, Road and Track]
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