Tesla's $1.8B Bond Sale…Wait, I Though It Was $1.5B?

Tesla's $1.8B Bond Sale…Wait, I Though It Was $1.5B?

The Model 3 is the newest EV from Tesla and it is also the biggest volume electric auto around if you are to take in the 400,000 strong that has placed a pre-order on the vehicle.

They'll help fund the ambitious rollout of the Model 3, the linchpin of Musk's plans to turn Tesla into a mass-market vehicle maker. Tesla Model 3, on the other hand, did not have a functional self-driving hardware when the first batches came out of the assembly line recently.

Musk told analysts that the Model Y's production plan will be a step apart from what Tesla - or the rest of the industry - is now doing.

Tesla said it would raise about $US1.5 billion ($1.9 billion) through its first-ever high-yield junk bond offering, as the USA luxury electric vehicle maker seeks fresh sources of cash to ramp up production of its new Model 3 sedan. The company spent $1.2 billion in the second quarter preparing for the Model 3's arrival. Musk said investors should have "zero concern" about whether Tesla will be able to meet its goal of making 10,000 Model 3s per week by next year. Such a feat could bring along with it unexpected detours and delays.

Fortunately for Musk, investors can't seem to shower his ambitions with too much money. "Let me just say 'yum, yum, '" he began his description.

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Musk went on to thank his executive team from stopping him "from being a fool". The company is valued at some 27 times 2020 earnings, implying the kind of growth that even the most bullish of analysts don't expect, according to Breakingviews calculations. In fact, this has turned out to be the opposite situation.

Tesla Model S and X previously had the HW 2.0 platform which was backed by Nvidia's Drive PX2.

Elon Musk founded the vehicle company in the early 2000s, but it wasn't until 2008 and the launch of the Tesla Roadster that the company started to get noticed in a big way. In part, Tesla will apply the net proceeds from these senior notes to "strengthen its balance sheet during this period of rapid scaling with the launch of Model 3".

The tactics worked, as bond buyers proved willing to overlook the company's negative cash flow and its repeated trips to capital markets to bolster its balance sheet.

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