Elon Musk Says Tesla Won’t Have To Raise Funds In Fourth Quarter

October 9, 2016, 5:02 PM UTC
Germany's Economy And Energy Minister Sigmar Gabriel Meets Tesla Motors Inc. Chief Executive Officer Elon Musk
Bloomberg — Getty Images

Tesla Motors Chief Executive Elon Musk on Sunday announced a product unveiling on Oct. 17 and said the company would not need to raise equity or corporate debt in the fourth quarter for its planned acquisition of SolarCity Corp.

Asked on Twitter whether the company would raise funds in first quarter of 2017, he tweeted, “Probably not then either.”

In August, the company said it planned to raise additional funds by the end of the year to help fund development and production of its new Model 3 sedan and support its SolarCity deal.

In another Twitter message, Musk wrote “Tesla product unveiling on the 17th (unexpected by most), followed by Tesla/SolarCity on the 28th.”

(Reporting by Radhika Rukmangadhan and Tenzin Pema in Bengaluru; Editing by Bill Trott)

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