Tesla Motors has become quite a driving force with stock prices trending upwards, great reviews, and steady sales.
Tesla Motors has also managed, in a market of other failing electric-vehicle ventures, to bring a great vehicle to market and make a profit while at it. Production is now at full speed and Tesla Motors expressed the goal of paying off Department of Energy [DOE] loans in half the time, of just five years. Well ahead of schedule, indeed.
Tesla Motors looks to be shortening the schedule even further with the announcement of a new public stock offering and newly issued convertible senior notes. Tesla Motors plans on selling 2.7 million shares of stock and $450 million worth of notes, in addition to another 405,454 shares and $67.5 million in notes. Elon Musk plans to personally buy another $100 million in stock from the company.
Aside from the usual investment into expansion, Tesla Motors plans to take funding from the notes, better than $500 million possibly, to pay back DOE loans in record time.