NEW YORK (TheStreet) -- Shares of Tesla Motors (TSLA) - Get Report are falling 1.16% to $232.18 this morning after CEO Elon Musk said late Tuesday that the company will need to raise "modest" capital to fund its new plans, such as implementing a car sharing service and expanding its product line to electric trucks and buses, Reuters reports.
The Palo Alto, CA- based car manufacturer is currently losing money and dealing with investigations into a crash earlier this year involving a driver using the company's Autopilot software.
However, Musk is looking forward, recently introducing a "master plan" for Tesla including a car sharing service and a new product line of electric trucks and buses.
The new plan for the company will roll out over a number of years, Musk said, funded largely by vehicle sales including the new Model 3 sedan set to launch in 2017. Musk expects the car to earn $20 billion in yearly revenue and $5 billion in gross profit.
Tesla is also developing a $5 billion battery plan with Japanese company Panasonic (PCRFY) which could support 1.5 million electric vehicles annually.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings score of D+.
The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: TSLA