Tesla's Musk says master plan will require capital raise

July 27, 2016 12:54 AM

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SPARKS, Nevada Tesla Motors Inc's (TSLA.O) "master plan" to broaden the electric vehicle maker's product line could cost "tens of billions" of dollars over time and would likely require a "modest capital raise", Chief Executive Elon Musk said on Tuesday.

Speaking at a formal unveiling of Tesla's $5 billion battery "gigafactory" outside Reno, Nevada, Musk said the new plant being jointly developed with Japan's Panasonic Corp (6752.T) could ultimately support 1.5 million electric vehicles a year.

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