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Posts Tagged ‘Tesla SEC filing’

Tesla Expects to Spend as Much as $6B in Next Two Years

Money to be used for product development, China plant.

by Michael Strong on Nov.02, 2018

Tesla's move to build a new plan in China will include up to $3 billion to for a new plant and other expenditures.

Already plagued by rumors of needing to raise additional money, Tesla officials expect to spend between $5 billion and $6 billion in the next two years to expand production.

The company, which revealed the plan in its quarter filing with the Securities and Exchange Commission, is making big moves with the money.

The Last Word!

Tesla will spend between $2.5 billion and $3 billion in capital expenditures readying the business for increased Model 3 production, development on its next vehicle, the Model Y, the second-generation Roadster and other projects, according to the filing. (more…)

Musk’s Big Plans for Tesla Need Big Money – Maybe $12.5B

Founder dispels notion company needs billions in a tweet.

by Michael Strong on Oct.14, 2016

CEO Elon Musk disputes the notion the company will need to raise billions of dollars.

As the latest product news from EV-maker Tesla looms, it’s the money the company will need – with estimates ranging from nothing to $12.5 billion – to meet all of its obligations that seems to be garnering all the attention.

Analysts have been furiously scouring the company’s SEC filings and looking for other clues to see what Tesla will need to spend to bring out new models, complete the acquisition of SolarCity and expand its other operations.

The Journal of Record!

Additionally, Elon Musk, the company’s founder and CEO, added more to the equation with a recent tweet alerting followers about a new product announcement on Oct. 17. (more…)

Tesla Falls Behind on Production Targets

EV maker's SEC filing outlines plans to meet projections.

by Joseph Szczesny on Sep.26, 2012

Tesla Motors CEO Elon Musk with the Model S.

Tesla Motors, the ambitious electric vehicle start-up company spawned by California billionaire and  entrepreneur Elon Musk, acknowledged in its filing with the U.S Securities and Exchange Commission it was falling behind in its efforts to produce its sleek new EV, Model S, leaving the company in danger of  failing to meet the terms of its $465 million loan from the U.S Department of Energy.

Consequently, Tesla is looking to sell $128 million in new stock, seeking relief from the terms of  its loan from the U.S. Department of Energy and  negotiating new deals with suppliers, the company said in its SEC filing.

Electrifying News!

Tesla’s disclosure comes during what is already a bad week for the builders of electric vehicles. Chrysler Group announced Monday it was suspending testing of more than 100 plugin electric pickup trucks because of unexplained battery fires, while Consumer Reports panned the $107,000 Fisker Karma in its review.