Elon Musk’s ‘Master Plan Part 2’ is still hot off from the press and Wall Street is already asking to see the money. With the new product plan, Tesla is expanding the list of industries it plans to disrupt, but that will come at a cost.
The company is just coming out of a $2.3 billion secondary stock offering ($1.7 billion in net proceeds) to primarily finance the Model 3 program and the needed $1.2 billion Fremont factory expansion, but now Musk added a pickup truck, a heavy-duty truck, and a bus, among other things, to Tesla’s product lineup.
While Wall Street seems mostly happy with the plan, several analysts covering Tesla are asking how the company plans to finance the new programs and expect more capital raise on the public market. expand full story