May 2, 2019 - Energy & Environment

Tesla plans $2 billion capital raise

Ben Geman, author of Generate

Illustration: Sarah Grillo/Axios

Tesla announced plans today to raise roughly $2 billion as it prepares new product launches and grapples with disappointing earnings. The company's stock was up 5% in pre-market trading.

The big picture: "Tesla intends to use the net proceeds from the offerings to further strengthen its balance sheet, as well as for general corporate purposes," the company said in announcing the offering of stock and debt.

Why it matters: It comes a week after the Silicon Valley electric automaker announced a $702 million first-quarter loss. The capital-raise includes a $10 million stock purchase from CEO Elon Musk.

  • It arrives as Tesla seeks to speed up sales and deliveries of its Model 3 sedan, while planning to begin deliveries of the Model Y crossover in the fall of 2020. The company is also developing an electric semi-truck.

Go deeper: Tesla's profitability winning streak is over

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Jennifer A. Kingson
3 mins ago - Politics & Policy

Cities brace for Election Day chaos

Illustration: Annelise Capossela/Axios

Worst-case scenarios for Election Day: Illegal militias show up fully armed at polling places. People are intimidated from voting. Extremist groups launch violent protests that last for days.

Why it matters: Mayors are playing down the threats — projecting a "we've got this" tone of reassurance — but some law enforcement officials and people who monitor extremists are telling them to be prepared for anything.

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Miriam Kramer, author of Space
14 mins ago - Science

The next environmental crisis could be in space

Illustration: Aïda Amer/Axios

An unexpected frontier is facing calls for new environmental regulations and cleanup: outer space.

Why it matters: Space junk clutters up orbits and poses an urgent threat to weather, security, communications and other satellites. Long-term, you can’t live or work in space if trash is literally slamming into you.

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Margaret Talev
43 mins ago - Health

Axios-Ipsos poll: Trump's sickness makes him harder to trust

Data: Axios/Ipsos poll; Note: ±3.3% margin of error; Chart: Axios Visuals

Large shares of women, seniors and independents now say they're less likely to trust President Trump for accurate information about COVID-19 since he caught it himself, according to the latest installment of the Axios/Ipsos Coronavirus Index.

The big picture: Week 28 of our national survey has most Americans rejecting ideas that Trump has floated around hydroxychloriquine as a virus treatment, how herd immunity works or any imminent availability of a vaccine.

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