Bengaluru — Tesla said on Monday it could seek alternative sources of financing though it expects cash generated from its business to be enough to fund its investments and pay down debt for at least the next 12 months. Wall Street has been looking for more details after CEO Elon Musk suggested last week that a capital raise could be imminent as the electric carmaker posted a $700m loss for the first quarter. “There is some merit to raising capital,” Musk said on an earnings conference call on Wednesday, after being asked why he had not done so yet. “It’s probably about the right time.” Shares of the company, which were initially up 2% after Musk reached a deal with the US regulators to settle a dispute over his use of Twitter, pared most of their gains to trade up 0.2% at $235.60 before the bell. Many analysts had predicted the company would need to raise funds for its expansion, including the Shanghai factory, the upcoming Model Y SUV and other projects.
“We continually evalu...
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