Tesla looking to raise $2 billion in fresh capital
Tesla filed for an offering of common stock and convertible notes and indicated that it would raise to 2 billion dollars. $650 million are to come in the form of new equity and the other $1.35 billion in convertible notes. Also, Elon Musk will acquire $10 million in shares.
Restraining order for Tesla
Once again Tesla is caught up in the dealings of speculative short sellers banking on short-term profits. The short sellers are said to have discussed deliberately causing collisions to discredit the EV maker. Tesla also obtained an injunction against a short seller who apparently harassed and stalked employees.
After BMW, Tesla overtakes Daimler on stock exchange
Tesla is climbing ever higher and has now not only overtaken BMW but has also surpassed Daimler in stock market value since shares of the Germans fell. At the moment the Californians rank third among all car manufacturers with only large volume manufacturers Toyota and Volkswagen being ahead.
Govecs postpones planned stock launch
The electric scooter manufacturer Govecs had initially planned to enter the stock market this fall, but the move has now been postponed. In their press the company cited the reasons behind the delay as being “due to the currently difficult capital market environment.”
Elon Musk steps down as chairman of Tesla
A settlement was made in the pending Securities and Exchange Commission (SEC) case against Elon Musk regarding his privatisation tweet – Musk will have to step down from his position as chairman of Tesla for three years and he and Tesla will each pay a $20 million fine.
BYD expands e-bus factory in Lancaster
BYD has again expanded their electric bus factory in the Californian Lancaster. Another five million dollars will flow into the newly completed 9,290 m² depot, which will bring the total investment cost for the facility to more than 53 million dollars.
Volkswagen investment plans blocked by Tesla
Volkswagen reportedly intended to invest 30 billion dollars in Tesla together with other investors including Silver Lake. This venture was blocked by Musk, however, as this would have provided VW with too much influence over the EV brand.
Tesla to remain listed on stock exchange
Tesla will not be taken private, says Tesla CEO Elon Musk who had planned to privatise the company. Rather than removing it from the stock market, it will now remain listed. Powerful investors had managed to change the mind of the Tesla CEO.