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Tesla in mammoth fundraising bid to step-up new Model 3 production

08 August 2017

Tesla will only build the $49,000 310 mile range Tesla Model 3 with upgraded interior version until at least November.

The company's stock has added about 67% for the year to date, after peaking at a year-to-date gain of almost 80% in mid-June.

While the move marks the first non-convertible bonds the company has issued, Tesla has engaged in many cash-generating offers in the recent past.

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This would be the company's first sale of non-convertible bonds, according to data compiled by Bloomberg.

The notes announced Monday would mature in 2025, though Tesla did not disclose interest rates or other terms of the securities. If you think the Tesla's projections are unrealistic and far too ambitious, sell Tesla stock and look elsewhere. Kelty worked in research and development at Panasonic for 15 years before he joined Tesla in 2006. The carmaker plans to make 500,000 vehicles in 2018 and a million in 2020. Patience, though, has its rewards, as is the case with the Tesla Model X. Chief Executive Elon Musk told analysts last week on Tesla's earnings call to expect debt rather than an equity tap.

The Tesla Model 3 is here - and it's like no auto you've seen. "Obviously, that's like the promised land right there". The business's revenue was up 119.6% compared to the same quarter previous year. Insiders sold a total of 115,980 shares of company stock worth $36,010,269 over the last three months. Standard & Poor's Global Ratings affirmed its B-minus rating on Tesla, saying the boost to liquidity should offset the company's "significant execution risks". The rush of pre-orders allowed Tesla to recently become the biggest U.S. auto company in terms of market capitalisation, despite the fact that General Motors (GM) and Ford produce millions of cars per year and Tesla has yet to make a profit.

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According to Reuters, the auto maker had over $3 billion on the balance sheet as of June, compared with $4 billion in the previous quarter and $3.25 billion a year earlier.

To accommodate its expanding customer base, Tesla has said it plans to add 100 service centers worldwide over the next year and hire 1,400 technicians to work on its cars. At the unveiling event, Musk shared video footage of a crash test comparing the Model 3 to the S60, and the results were astonishing. After that comes the Model Y, a smaller crossover scheduled to arrive as soon as late 2019.

Solar power and battery storage now make up a small percentage of Tesla revenue, but it has high hopes for both.

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Tesla in mammoth fundraising bid to step-up new Model 3 production