With a debt load of about $10.5 billion and the possibility of an impending cash shortfall, Wall Street expects the luxury electric carmaker to need to raise funds before long.
In its fifteen-year existence the company headed up by Elon Musk has not made a profit, and it's burning through cash at an unprecedented rate.
Musk had pledged to build the battery in the South Australian outback for free if it was not completed within the 100 days. He estimated that would cost at least US$50 million - local authorities will now pick up the tab.
The deal is a big step in chairman and a major shareholder of the Tesla Motors Elon Musk's plan to offer consumers a one-stop clean-energy shop.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2023 TRT World.