First Free Story (1 of 3)
Join Skift ProMore travel executives get their mission-critical industry news from Skift than any other source on the planet.
Tell me moreAlready a member? Sign in here
Electric car maker Tesla Motors needs money — soon — to continue developing its cars, building its Superchargers and expanding its retail outlets. It plans to publicly sell shares that could bring in up to $221 million.
Another indicator that Tesla needs considerable funds in the short term: Tesla asked its first several thousand customers on its reservation list (it’s had 13,000 reservation holders in total) to configure their cars for delivery (basically commit to buying them) or risk losing their production slot. Tesla doesn’t record revenue until the Model S is actually delivered.