Tesla Wants A Piece Of The Hypothetical Auto Bailout Fund
The big three automakers are clamoring for a piece of the hypothetical $25 billion auto-bailout fund. And newcomer Tesla wants a piece of that too, apparently. The startup auto-maker has requested $400 million in low or no-interest loans to fund two upcoming projects (likely their new $70k electric sedan and a low priced third car). Tesla has raised nearly $200 million in capital since 2004, including a recent $40 million convertible debt financing. Prior to the debt round, Tesla unsuccessfully tried to raise $100 million in new capital.