Tesla Must Raise Another $1.5 Billion To Bankroll Model 3 Production

Gladys Abbott
August 12, 2017

With no experience in big volume production, the pressure is on Tesla to deliver the Model 3 in a timely manner and without spoiling the quality of the car.

The agency named "the recent launch of the Model 3, scale of Tesla's battery manufacturing investments, the public perception of its technology, and its access to the capital markets" as positive for the company.

Tesla CEO Elon Musk said that 63,000 people cancelled their Model 3 reservations over the course of more than a year - but he was quick to add that it's a relief for the electric carmaker.

The company said Monday that it plans to offer senior notes due in 2025 and would use the offering's proceeds to further strengthen its balance sheet during rapid scaling of the Model 3.

And while the record claim doesn't mention being monitored and verified by an independent officiating organization, none other than Musk himself weighed in with congratulations.

As well as the range, the official EPA docs, reveal the long-range Model 3 will be capable of reaching 96km/h (60mph) in just 5.1 seconds - 0.5secs quicker the standard model.

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The figures reported by the EPA have not yet been confirmed by Tesla.

In a press release Monday morning, Tesla Inc.

Also seen in the EPA document via InsideEVs is a reference to Model 3's 258 rated horsepower. The Californian company promises that it "will grow exponentially until we achieve full production", but, still, if you order a car today, you won't get it for 12 to 18 months.

Given how brutally quick the top-dog Model S is, we expect the Model 3 Ludicrous Edition to be a proper menace given that it weighs roughly 600kg less.

Actually, Tesla has more than US$3 billion in cash at the end of the second quarter, compared to US $4 billion at the end of the previous quarter and US$3.25 billion in the previous year. The international expansion will lower vehicle and delivery costs to customers in Asia and Europe, he said. In March, the company used a convertible debt offering to raise $1.4 billion.

The faster pure-electric BMW M3 rival meanwhile, is tipped to come with dual motors, potentially lifting its powertrain from the Model S P110D.

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