Markets

Amber Heard, Elon Musk are over; Both break silence on issue

Amber Heard, Elon Musk are over; Both break silence on issue

Tesla is shopping $1.5 billion in notes that would reportedly pay just 5.25% interest, according to the Wall Street Journal, even though the company's credit is rated speculative grade, or junk.

Tesla is about to enter what CEO Elon Musk dramatically calls "production hell", the push to ramp up production of the Model 3 and ultimately meet Musk's goal of producing 500,000 cars per year by next year.

Whatever new technologies Tesla Motors' new Model 3 might contain as it reaches consumers this year, there is one thing it will contain much less of - and that's wiring.

The move of the company represents Tesla chief executive officer Elon Musk's bet that the Tesla Model 3 will be a hit.

Tesla Inc., the American automaker is working on a backup plan if its long-standing promise to bring "Full Self-Driving Capability" onto roads falls short to meet the market demands, claimed the latest report, and published by Electrek.

However, as Tesla's quarterly earnings performance shows, it may finally be time for TSLA stock bears to set Musk's irritable inaccuracies aside and re-examine their stance on the company. The five members of the Italian Tesla Owners Club took turns driving the vehicle one-by-one.

The Model 3 is, in many ways, the true make-or-break moment for Tesla.

The debt pricing came amid a more than 1 percent drop this week in the iShares iBoxx $ High Yield Corporate Bond ETF (HYG), which held gains of less than 1 percent for the year Friday, as geopolitical risks soured the appetite for risky assets. That larger battery is expected to cost about $9,000 more.

But Tesla hopes the Model 3, which debuted at the end of July, will help the Silicon Valley company become the top carmaker on the block. The chief executive officer of London-based TwentyFour Asset Management, which manages $13 billion, said Tesla will need to raise more debt because it's burning so much cash, and it's likely to layer on new secured bonds.

Tesla is counting on the Model 3, its least pricey vehicle, to become a profitable, high-volume manufacturer of electric cars.

Details elsewhere are scant, but we understand the Model Y will ditch the complex and expensive "Falcon" doors fitted to the £80,000 Model X SUV and should be closer in price and size to the Model 3 saloon.


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