Tesla Receives $82.5M from Fjord Capital Management

Executives deliver 700th Roadster at Frankfurt Auto Show.

Published: 16-Sep-2009

Tesla Motors Inc., maker of an electric sports car that can accelerate to 60 miles per hour in 3.9 seconds, received an $82.5 million equity investment from a group led by Fjord Capital Management.

“It was an opportunistic investment,” Elon Musk, chief executive officer of San Carlos, California-based Tesla, said today in an interview at the Frankfurt Motor Show. “We were not looking for money.”

Daimler AG, which invested $50 million in Tesla this year along with Aabar Investments PJSC, the Abu Dhabi fund that’s the German carmaker’s biggest shareholder, contributed to the offering to keep its stake at just under 10 percent, Musk said.

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