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Tesla Model X Now $3000 Cheaper

10 Agosto 2017

Tesla is turning for the first time to junk bonds to raise cash as it ramps up production of the new Model 3 car. Pre-orders for the small sedan have already surpassed half a million, even as customers have started bailing on the vehicle.

Tesla does not break out gross margins of its specific models, but total gross margins omitting stock-based compensation and revenue from zero-emission automobile credits was up to 25 percent in the second quarter from 26.4 percent a year previously, because of the Model 3 build.

The basic Model 3 will retail in the United States for $35,000 a year beginning in November, the company has said, giving consumers interested in reducing their carbon footprints or simply saving on gas a more affordable option.

Musk stated on a call with experts earlier this week that the launch of the Model 3 had not cannibalized Model X sales, which demand for the Model X along with the Model S had increased with the release of the lower-priced vehicle. There are predictions that Tesla would be producing around 200,000 vehicles in this current year and try to produce almost double the current number of vehicles than this year in 2018.

The bonds will mature in 2025.

The Model 3, Tesla's $35,000 mass market electric car, is expected to be an international success.

Tesla has its own manufacturing plant of batteries which are high in technology and performance compared to other batteries which would give an edge to Tesla against any competitor trying to enter the electric car segment.

To that end, Tesla (TSLA) said Monday it is raising $1.5 billion in a senior note offering. By some industry estimates, the carmaker could burn as much as $2bn of its cash reserves this year alone. "Then you'd go back to the equity markets and hope it's not too late" to raise more money.

Tesla also is involved in installing solar-paneled roofs and producing batteries that can store the energy and power homes.

Tesla Model X Now $3000 Cheaper