"[W]e're spending money ... efficiently and we're not artificially limiting our progress. And then, despite all that, we are still generating positive cash," CEO Elon Musk said in Tesla's (NASDAQ: TSLA) fourth-quarter earnings call on Jan. 29 when asked whether the company was considering raising capital following the stock's big run-up in the months leading up to the quarterly update. "So in light of that, it doesn't make sense to raise money because we expect to generate cash despite this growth level."
But the plan has apparently changed. In a filing with the Securities and Exchange Commission (SEC) on Thursday, Tesla said it plans to generate more than $2 billion through an equity raise.
Tesla CEO Elon Musk. Image source: Tesla.
Source Fool.com