Tesla is getting an investment from the billionaire investor Steve Ballmer, who owns the Los Angeles Clippers.
Ballmer and Tesla have been in contact for a year and a half, but the company declined to comment on the agreement.
A spokesperson for Ballmer said that the two companies have “agreed on a mutual commitment to invest $1 billion in Tesla.”
The Wall Street Journal first reported the deal, which will include investments in the automotive maker, the auto industry and a handful of startups.
Tesla has been under pressure from investors to release its financials and reveal more details about its electric vehicle business.
Tesla is the only automaker in the U.S. that doesn’t make cars.