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Tesla offers $2B in added shares to capitalize on stock surge

Tesla estimated that the net proceeds from the sale could be $2.31 billion

Shares of Tesla rose a bout 1.5% i n trading Thursday morning after the electric vehicle and solar panel maker said it would sell over $2 billion worth of additional shares. The sale takes advantage of the company's meteoric stock rise in the past eight months. It comes just two weeks after CEO Elon Musk said the company had enough cash to fund its capital programs and it didn't need to raise any more money.

Featured
These are the cars that depreciate the most in the first year

You'll save a lot of money if you buy one lightly used

Depreciation hits some cars harder than others. Here are the 10 vehicles that lose the most value in the first year of ownership.

Recalls
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Motorsports
Spy Shots
Volkswagen ID.4 spy shots show a nearly production-ready electric crossover

The production version could debut at the New York Auto Show in April

Breaking
IIHS Top Safety Pick and Top Safety Pick+ awards get tougher: Here are the latest winners

Mazda and Subaru move to the head of the class as the agency makes its top rating harder to achieve

This 18" electric snow blower is nearly 50% off today only

Keep your driveway clear without breaking your back for just $77.49

Official
China auto sales drop 18%, with coronavirus keeping buyers at home

Though it's the 19th month of declines, so virus is only one factor

BEIJING/SHANGHAI (Reuters) - China's vehicle sales likely fell by almost a fifth in January, marking a 19th consecutive month of decline, hurt by Lunar New Year holidays that started earlier than last year and by the coronavirus outbreak. The epidemic will hit auto sales and production hard in the short term, the China Association of Automobile Manufacturers said, predicting competition in the industry would get fiercer and some smaller parts suppliers could collapse. Preliminary data for Janu

Recalls
Tesla recalls 15,000 Model X SUVs for power steering issue

The recall applies to 2016 model year X vehicles

Tesla Inc is recalling 15,000 Model X SUVs because of a potential issue that can lead to a loss of power steering assist that could make steering harder and increase the risk of a crash. The National Highway Traffic Safety Administration (NHTSA) and Transport Canada said aluminum bolts that attach the electric power steering gear assist motor to the gear housing may corrode and break causing a reduction or complete loss of power steering assist. The recall applies to 2016 model year X

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