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Tesla to Seek Additional Capital to Help Pay for Model 3 Production Costs

Tesla plans to tap the equity or debt markets for additional capital to help pay for production of its new Model 3.

Tesla  (TSLA) - Get Free Report  plans to tap either the debt or equity markets for additional capital before the end of the year. The company made the disclosure in a regulatory filing. Tesla says it needs additional funds to pay for production of the upcoming Model 3 sedan as well as for continued development of its battery factory, among other things. Tesla did not indicate how much more capital it will seek. At the end of the last quarter, the automaker had 3.25 billion in cash on hand.