Tesla Model 3s Annually Just About Right, Says Musk


On the other hand, vehicle owners expecting shipment of their Model 3, S and X soon will already have the new supercomputing hardware suite and thus, no update will be required.

But Musk gave analysts an even more startling product tidbit in the conversation: Tesla's next model - the Model Y small crossover - will require only 328 feet of wiring in construction, he said.

Tesla Inc.'s (NASDAQ:TSLA) CEO Elon Musk has always been a controversial and vocal mouthpiece for the electric vehicle company, often to the detriment of the company's stock.

The interview about the Tesla Model 3 begins at 4:33. Right now, the goal is to get the affordable electric auto out of "production hell," per a tweet by Musk. Tesla anticipates the addition of Model 3 production this year will eventually lift plant volume to almost 500,000 vehicles a year.

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For those who were interested in the Model 3 based on its $35,000 price tag, the Model S 75 is the next best bet, though it's still considerably expensive. That is $300 million more than Tesla initially planned to sell, a sign that demand for the debt is high. While Tesla workers have talked of unionization before, the increased strain of "production hell" may add new urgency to that debate, the website reports.

"His analysis came after Tesla announced on its website that it will be offering "$1.5 billion in aggregate principal amount of its senior notes due 2025". Until now, Tesla has only referred to the two models by the 220 and 310 miles they respectively drive before needing a recharge.

Musk hopes to accelerate production cycle time through a combination of plant automation and by designing vehicles for simpler construction - such as the Model 3 and the Model Y. The public may not be able to recognize which innovations will stick, but it knows what it likes in an EV. There are several reasons why this is the auto the early adopter community (and first followers) is most in love with. The debt offering, Tesla's first of non-convertible bonds, represents the latest sign of froth in the high-yield market, where investors have been turning a blind eye to bond-market basics in search of yield.