Tesla Makes Record $920 Million Payment for Convertible Bond
Debt payment likely used up nearly a quarter of Tesla’s cash
One of the biggest things preventing Elon Musk from releasing a mass market electric vehicle comes down to the vehicle's blessing and curse: its lithium-ion battery. We break down the science and the cost.
Tesla Inc. delivered its largest-ever bond payment Friday, a move that likely used up nearly a quarter of its cash at a time when the company faces increasing scrutiny from regulators and investors.
The electric car maker had issued $920 million in convertible, senior notes five years ago, a period when rapid growth and optimism around its Model S electric car drove a furious rally in Tesla shares. Reflecting that, the strike price for the notes, or the level at which the notes would be fulfilled by a conversion into Tesla...