Tesla plans to raise more capital

Tesla will raise more capital by offering more shares to public market. They are planning to raise aditional 5 billion USD. This will bring their cash reserves to 20 billion USD which will be used for aditonal development, mainly new factory near Berlin. This will be really important investment as Tesla is starting lose ground a bit in Europe with competitiors such as Audi with E-Tron and VW with ID3 and ID4 which are cheaper and have better quality, with factory in Europe they could bring down the price and increase their numbers. New shares will be added over time so they wont sink the price, but this news brough Tesla down by 4% in premarket, but its still 670% up this year. (Hull, Bloomberg)

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