Tesla Cuts Revenue Outlook, Unveils Plan to Sell More Shares

Tesla Motors Inc. cut its revenue target for 2012, warning that it has fallen behind on its production goals for its Model S sedan and would sell about $150 million in shares to avoid a cash squeeze.

The Palo Alto, Calif., car maker disclosed in a federal filing that it has received a waiver from required financial reserves of the $465 million in loans it received under a 2009 U.S. Department of Energy program.

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