Tesla Inc. said it is on track to launch a more affordable car this year, but it needs to raise $1 billion to make sure it happens. The Silicon Valley electric-vehicle maker said Wednesday it is offering $250 million in common stock and $750 in convertible notes to strengthen a fragile balance sheet amid a risky ramp-up of Model 3 production. Billed as a cheaper offering by a company known for pricey super cars, the Model 3 is...

Source: Wall Street Journal March 15, 2017 21:13 UTC