Tesla Secures a $40 Million Loan

Posted Nov 3, 2008

Tesla Motors secured an additional $40 million in capital today. The company had only  $9 million left from previous funding rounds. The $40 millin is a convertible debt. Unlike equity-based venture funding, convertible debt is a loan that can be converted to equity at the discretion of an investor.

Tesla has now raised a total of $186 million.

Source: Reuters