Tesla Model 3 Production: Carmaker Looking To Raise $1.5 Billion

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The Tesla Model 3 is one of the most talked-about cars in the world today and the carmaker is looking to raise $1.5 billion to ramp up production. The carmaker intends to raise the money through bond offerings.

Tesla is receiving thousands of bookings for the Model 3, averaging at about 1800 bookings per day. The Model 3 is the basic offering from the US electric carmaker and is the first mass market offering from Tesla.

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tesla to raise money for model 3 production

Tesla already had a little over $3 billion in cash at the end of the June quarter. During the launch event of the Model 3 in July, Musk had stated that the company would face "at least six months of manufacturing hell" as the Model 3 production would have to be increased.

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Electric cars are the future of mobility, and with a base price of $35,000, the Model 3 will be accessible for many customers. The car is already a much-talked about product and going by Tesla's numbers in regards to bookings, the Model 3 has the potential to be the most-sold electric car in the world.

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