Tesla plans $783 million debt sale backed by car leases

Tesla Inc. plans to sell $783 million in debt, using car leases as backing. This sale, managed by Societe Generale, could be priced as early as next week. It marks Tesla's second financing effort this year, following a $750 million raise in March. The company aims to leverage asset-backed securities, a common financing method among automakers. Tesla has used this approach before but less frequently than its U.S. competitors. This announcement comes ahead of significant events for Tesla, including Robotaxi Day on October 10 and third-quarter financial results on October 23. Tesla will also showcase models at the Paris Auto Show from October 14 to 20.