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Tesla needs to raise $10.5 billion in capital to keep going through 2020: Goldman Sachs

Tesla Inc. will need about $10.5 billion in fresh capital through 2020 to keep operating and meet its own targets, Goldman Sachs analysts said Thursday.

That’s the sum needed from external capital raises and debt refinancing for the electric-car maker to fund its current operations and finance new product spend and capacity additions, Goldman analysts led by David Tamberrino wrote in a Thursday note. Goldman is assuming that Tesla TSLA, -0.68% will go ahead with a plan to launch a new vehicle manufacturing plant and gigafactory in China.

“We believe this level of capital transactions may be funded through multiple avenues, including new bond issuance (secured and/or unsecured), convertible notes, and equity,” the analyst wrote.

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