Teslas U-turn Puts It Back At Square One On Cash


NEW YORK – Elon Musk’s take-private plans for Tesla Inc have evaporated, but the company’s looming debt needs remain.

With a debt load of about $10.5 billion and the possibility of an impending cash shortfall, Wall Street expects the luxury electric carmaker may need to raise funds before long.

Tesla Chief Executive Musk said late on Friday he would heed shareholder concerns and no longer pursue a $72 billion take-private deal, abandoning an idea that stunned investors and may draw regulatory scrutiny.

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