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One of the happenning Startups projecting monopolistic competition in its segment is further going to surprise us with its new round of funding. Elon Musk’s Tesla motors have raised $1.2 Bn by selling common shares and convertible debt. As per the previous announcement by Tesla officials the company was looking forward to raise around a billion dollar but the actual amount raised has exceeded the announced amount by 20%. The company will be utilising the amount to fund its upcoming Model 3 Car. As per the various media sources the car will also be coming to India post its official launch.
In the recent past the company has been eyeing India as the upcoming market for the battery powered cars after China and Elon Musk has confirmed to launch Model 3 in India in the summer of this year (2017) after its official launch globally. The company will also put up their battery plant to fuel the productions in India. The company has already gone public on June 29, 2010, and this is the fourth investment that it has raised as “Post IPO equity” since its IPO.