Tesla Financing Plans

Tesla - depositphotos

CBJ — Tesla CEO Elon Musk says his company could seek alternative sources of financing although it expects cash generated from its business to be enough to fund its investments and pay down debt for at least the next 12 months.

“We continually evaluate our capital expenditure needs and may decide it is best to raise additional capital to fund the rapid growth of our business,” Musk said, in a regulatory filing.

Tesla has $2.2 billion in cash and expects capital expenditures of about $2.5 billion to $3 billion annually for the next two fiscal years. The company’s total debt stood at just above $10.3 billion at the end of the first quarter of 2019.

@CanBizJournal

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