When Tesla talked about its earnings in early May, one big question came up: just how will the company afford to make hundreds of thousands ofModel 3s (over 373,000, at last count)? By raising a ton of investment money, that’s how. Tesla has announced that it’s selling a total of $2 billion in stock, about $600 million of it from Elon Musk himself, to pay for its expansion plans. It had to move up its goal of 500,000 electric vehicles per year to 2018 in response to Model 3 deposits, and that means having a “good buffer of cash” (as Musk said during the earnings call) to keep things humming.
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