Tesla sees new financing, founder offers support

Newswire

By Nichola Groom and Kevin Krolicki LOS ANGELES/DETROIT, Oct 31 (Reuters) - Tesla Motors Inc expects to close a financing round of over $20 million from existing investors as soon as next week to bolster a cash balance now at $9 million, said Elon Musk, founder and chief executive of the electric car start-up. Musk, who became a billionaire by founding PayPal, said he would personally ensure that the San Jose, California company would have enough cash to deliver all of its orders for the ...

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