 Tesla raises $1.8 billion, $300 million more than planned
American electric carmaker Tesla on Friday raised $1.8 billion, $300 million more than expected, in its first high-yield junk bond offering. The proceeds will finance production of Tesla's Model 3, as it aims to boost production to 5 lakh cars, about six times its 2016 output. The Elon Musk-led company burned through $1.2 billion cash in second quarter of 2017.