Tesla asks Wall Street for $2.3bn to shore up falling cash reserves

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Tesla asks Wall Street for $2.3bn to shore up falling cash reserves

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J7EGX5 Tesla electric car showroom on Kurfurstendamm shopping street in Charlottenburg Berlin, Germany | Alamy Stock Photo

Shares in Tesla, the US maker of electric vehicles, gained as much as 2.8% on Thursday morning after the company announced it would raise up to up to $2.3bn of capital by selling new shares and convertible bonds to strengthen its balance sheet following a net loss of $702m in the first quarter of the year.

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