Telsa received an $82.5 million equity investment from Fjord Capital Bloomberg reports.
Elon Musk called the investment “opportunistic” and said “We were not looking for money.”
Telsa was profitable in July, but there’s no guarantee that it will remain profitable as it starts production of the Model S. Tesla received a $50 million investment from Daimler in May, but that money wasn’t enough to sustain Tesla’s operations, from what we heard at the time. This extra cash will help keep the company chugging along.
This money might be used to expand retail operations.
The electric automaker has been approved for a $465 million loan from the DOE, but that money comes as needed, not in one lump sum.
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