Newsclip®: [Business] Tesla raising cash to fund accelerated production

"NEW YORK: Luxury electric carmaker Tesla Motors announced Wednesday it planned to raise $1.4 billion in new capital to help fund stepped-up production of its new Model 3 car.Tesla, which announced in early May that it would accelerate its plan to reach annual production of 500,000 cars by two years to 2018, said it would sell 6.8 million new shares in the public offering.Tesla said it has taken deposits from 373,000 customers for the Model 3, which it expects to begin delivering late next year.`",

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