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Tesla CEO you are musk is going to Wall Street with hat in hand looking to raise two point three billion dollars in fresh cash for the electric car maker Tesla announced Thursday it will sell more shares and issue new debt musk is willing to put his money where his mouth is pitching and ten million dollars of his own cash to buy shares in the new offering proceeds from the plant sale will help fund testers goal of revolutionizing the auto industry must is currently struggling with production of his less pricey mass market model three electric sedan as plans to put an SUV on the road and he's building a factory in Shanghai rotors breaking news columnist and to the curry for year two of him saying we don't need to raise capital %HESITATION because we can make enough money for more car sales have enough cash not book it's do everything we want law school showed that Debbie was going to happen there's no reason to think that's gonna suddenly improve so in the short term at least he needs to raise the money just to get over the hump of more possible earnings losses and also he's predicting already the ease and spent two and a half billion on capital expenditure this year test the stock jumped as high as five percent Thursday that might seem strange for shareholders we're going to see their original investment diluted as Tesla brings on more shareholders but that's only one way to look at it shelters looking isn't thinking great we knew he'd need Israel capital left at the stock has fallen thirty percent give or take it depending on where you look at it beginning of last year hello guys on concern that musk is running out of cash not thinking about two billion in cash they need at least one to one and a half billion just to keep the lights on on the doors like most people say so now that he will have more cash we got it's what you think is enough on all it's a better sign than it was yesterday the fund raising comes at a crucial time last quarter test the lost seven hundred million dollars and some of its street cred mosque has vowed to win that back he said Tessler will turn a profit again , by the second half of the year