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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