Tesla is raising $1.5B to ramp up Model 3 production

The Path Toward Autonomy Munster On Tesla's Critical Evolution

The carmaker said last week it expects about $2 billion in capital expenditures in the second half of the year as it spends on Model 3 equipment, its battery gigafactory and the expansion of its supercharger network.

The company said earlier this month that 518,000 people have put down $1,000 deposits for the auto since March 2016. The company now plans to increase its output to 5,000 Model 3 cars a week by the end of 2017. The stock was sold at an average price of $367.68, for a total transaction of $1,724,419.20. "We believe we will eventually look back at the launch of the Model 3 and compare it to the iPhone, which proved to be the catalyst for the shift to mobile computing", Munster said in a recent research note.

The future of the company hangs on the Model 3, described as a mid-market auto with a price range of $35,000 to $60,000. First batch of 30 units has been delivered to customers on July 28. According to the Q2 shareholder letter, the company is confident of reaching a production capacity of 1500+ vehicles in Q3, and ramping that up to 5000/week by the end of this year and hitting over 10000/week sometime in 2018. Reducing base pricing, however, may be a way to pull Model 3 reservation holders toward Tesla's "current" lineup.

The company has yet to make a profit in its history.




Other electric cars simply pale in comparison with the Model 3 in every technical category. "And then in Germany, we've just heard announcement of a new plan for a $1 billion factory on batteries", Giles Keating, now the chairman at investment consultancy Werthstein Institute, told CNBC Monday. The total actually is 455,000 when cancellations are subtracted, he said.

Long investors, on the other hand, are not overly concerned. A Tesla spokeswoman said, "At times, refund processing slows down when additional confirmation is needed to prevent fraud via identity theft".

New details surrounding a long-range version of the Tesla Model 3 have been leaked online by the US Environmental Protection Agency. While the long range Model 3 with premium features has already started shipping, the base $35,000 isn't due until later this year. If everything goes as planned, Tesla could be seeing revenue of over $20 billion per year. But according to Tesla's site, its Model S 100D can travel at least 514 miles driving at 45 miles per hour.

"They want to make sure the transition to a higher production ramp is smooth", Selesky said.

Related news:

Hot News

isis-killer-beheading-video-story-top Fox News Host Eric Bolling Suspended Amid Lewd Photo Accusations
Aug 08, 2017 - 00:43
" Eric Bolling has been suspended pending the results of an investigation, which is now underway", Fox News said in a statement. The allegations follow a series of sexual harassment scandals involving senior Fox News executives and on-air stars.

isis-killer-beheading-video-story-top Taylor Swift expected to testify in photo grope case
Aug 08, 2017 - 00:40
Among the key pieces of evidence is a photo which shows Mueller with his right hand behind the singer , just below her waist. She is asking that attorney's fees and costs be paid for by Mueller along with compensatory damages to be proven at trial .

Wenger suggests Man United do not deserve Champions League football
Aug 07, 2017 - 01:23
According to the Daily Express, the Spanish tactician is desperate for Arsenal attacker Sanchez to join the Citizens this season. Wenger insisted again that Sanchez, who is in the final year of his current contract, won't be going anywhere this summer.

Donald Trump-Russia investigators ask White House for documents about Michael Flynn
Aug 07, 2017 - 01:21
His potential failure to register as a foreign agent could also carry a felony charge. Trump and on suspicion of collusion between the campaign team of Mr.

Moeen Ali increases England lead over South Africa to 360 runs
Aug 07, 2017 - 01:10
Tom Westley went in similar fashion, edging to substitute fielder Aiden Markram, who held on at a gully to leave England on 30-2. Olivier, who also dismissed Bairstow, ended the day with fine figures of 3 for 38 but that was scant consolation to his side.

isis-killer-beheading-video-story-top Manchester United complete signing of Matic
Aug 06, 2017 - 01:38
United's manager has always created his title-winning teams with the foundation of a solid defence. It may have taken a while for him to find his feet but Mkhitaryan now stands tall at Old Trafford .

isis-killer-beheading-video-story-top Stephen Curry shoots 74 again at Ellie Mae Classic, misses cut
Aug 06, 2017 - 01:37
The good news for Curry is that he was close to saving par after hitting a very good chip shot that nearly made it to the hole. Coming into the tournament, Curry had +900 odds to make the cut and -2500 to miss it according to some sports books .

isis-killer-beheading-video-story-top Bank of England downgrades growth expectations
Aug 06, 2017 - 01:36
Ishaan Malhi, CEO and founder of online mortgage broker Trussle, said there are positive and negative implications for households. The weaker pound is good news for the FTSE 100, which is at its highest level since the end of June.

isis-killer-beheading-video-story-top Venkaiah Naidu elected new Vice President of India
Aug 06, 2017 - 01:36
Janata Dal-United, which is now a part of NDA, had announced support for Gandhi. 381 votes were the quota set to win the polls. While 11 votes were declared invalid, the identities remain untraced due to the secret ballots as many as 14 MPs were absent.

isis-killer-beheading-video-story-top Trump takes break from White House with 'working vacation'
Aug 06, 2017 - 01:31
Trump's popularity is at an all-time low, as well. "Excellent Jobs Numbers just released - and I have only just begun". And that's all President Trump wants: to scare his underlings into serving him rather than our democracy.

isis-killer-beheading-video-story-top British model 'kidnapped and drugged' before being AUCTIONED online
Aug 06, 2017 - 01:25
The interior "dungeon" of the farmhouse where the model was kept for six days before she was taken back to Milan to be released. It is understood the police investigation involved reconstructing the kidnapping scene and studying CCTV footage from the area.

isis-killer-beheading-video-story-top Three Things Bill Ackman Wants to See Happen at ADP
Aug 05, 2017 - 00:35
On Friday morning, ADP's announcement of Ackman's desire barely registered with investors. ADP also couldn't resist taking a swipe at Pershing Square's recent weak performance.

isis-killer-beheading-video-story-top Google Play Store now penalizes poorly performing apps in rankings
Aug 05, 2017 - 00:32
Apps that frequently crash, eat up excess battery, or render slowly will find themselves much lower in Play Store searches. Developers who want to monitor app performance can access the Play Console to identify and fix quality issues.

isis-killer-beheading-video-story-top Big-spending Everton edge through as Dominic Calvert-Lewin fires in victor
Aug 05, 2017 - 00:30
Ronald Koeman's side were drawn with the Croatian side after clinching one-goal wins over Ruzomberok in their previous two-legged tie.

Is Spotify finally coming to Xbox One?
Aug 05, 2017 - 00:30
It's been an "exclusive", meaning that consoles like Microsoft's Xbox One and Nintendo's Switch couldn't get the app . Microsoft is set to bring the popular music streaming app Spotify on to Xbox One platforms, for all users to enjoy.