Tesla`s Convertible Bonds
| Case Code: FINC179 Case Length: 10 Pages Period: - Pub Date: 2021 Teaching Note: Available |
Price: Rs.300 Organization: Tesla, Inc. Industry: Automotive Countries: United States Themes: Convertible Bonds, Debt Instruments |
Abstract Case Intro 1 Case Intro 2 Excerpts
A Note on Tesla
Tesla was known for its electric vehicles and solar energy products (solar roof, solar panels). The company was started by engineers EMartin Eberhard and Marc Tarpenning on July 1, 2003, as Tesla Motors. In February 2004, the company went in for ‘Series A’ funding of US$7.5 million from various investors. Elon Musk (Musk), a serial entrepreneur, led the funding round with a US$6.5 million investment. The investment helped Musk become chairman of the board of directors. In the subsequent round of funding, Musk topped the investors’ list with an investment of US$13 million in 2005 and US$40 million in 2007. In 2006, Tesla came up with a prototype of the Roadster, Tesla’s first all-electric car. In December 2007, Ze’ev Drori (Drori) became the CEO of the company and decided to reduce the number of employees by 10% to cut costs..
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