The Australian real estate investment company TESLA has made a $50 million investment into Tesla Motors Inc. (TSLA), according to financial filings from the company and Tesla Motors Australia.
The Australian company is known as TESSA in Australia.
Tesla has already made a similar investment in SolarCity Corp. The Tesla announcement comes as the company is expected to unveil a second electric vehicle this week at its 2017 shareholder meeting in San Francisco.
The company is also expected to release its first full-size electric car, the Model 3.
A second Tesla, a new model called the Model X, is due out later this year.
Tesla is currently valued at more than US$1.3 billion, according to FactSet data.