By Joseph White
RENO, Nev. (Reuters) – Tesla Motors Inc A “modest capital raise” could be needed to fund Tesla’s strategic plans, and new products in the plan could cost “tens of billions” over time, Musk said at a press conference at the official unveiling of Tesla’s battery “gigafactory” near Reno, Nevada. Last week Musk unveiled an ambitious plan to expand the company into electric trucks and buses, car sharing and solar energy systems.
Tesla has taken 373,000 orders for the Model 3, which has a starting price of $35,000, about half its Model S. It has said it would begin customer deliveries in late 2017.
(With additional reporting by Rishika Sadam in Bengaluru; Editing by Jeffrey Hodgson)
Tesla’s Musk says Model 3 could generate $20 billion in revenue per year
By Joseph White
