Tesla Model X now $3000 cheaper — Rich hippies rejoice

Ivan Schwartz
August 12, 2017

Junk bonds are lower-quality investments that offer higher yields.

At the time, the company's chief executive officer Elon Musk said Tesla has set a target of 400,000 units to be assembled by 2018. The Nasdaq Composite is up about 18% over the same time period, while GM stock has added just 1.2% for the year to date and Ford stock has declined nearly 10%.

Tesla's bond will price later this week after several days of meetings with credit investors, who will to look into some factors, including the absence of a borrowing history, its lack of profit and its high cash-burn rate against its growth potential and its appeal as an environmentally friendly green issuer.

The financial details of Tesla's bond are not yet known.

But that will cost money, and Tesla is burning through cash at a rapid rate.

The e-car pioneer has announced it wants to raise more than a billion dollars in fresh debt obligations under efforts to strengthen its balance sheet ahead of mass-producing its latest Model 3 sedan.

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He added: "I think Americans should sleep well at night , have no concerns about this particular rhetoric of the last few days". We want you to take a live look at Guam where it is nighttime right now. "We would like to see results".

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Tesla Motors CEO Elon Musk introduces the falcon wing door on the Model X electric sports-utility vehicles during a presentation in Fremont, California September 29, 2015.

The Model X 75D now costs $3,000 less than it did previously, starting at $79,500.

The automaker's debt load increased significantly when it bought solar panel maker SolarCity last year.

That said, as a feat of driving and of pushing the technology past its stated limits, it's a very impressive achievement.

The city range goes to 331.1 miles, on highway it goes to 337.2 miles and both combined result in 335 miles, half of the Italian owners' record.

According to Tesla, the change in entry price comes down to its own improvements in manufacturing. The company currently produces around 100,000 cars per year in total, but hopes to reach 500,000 by the end of next year. The convertible debt sold in the past yields between 0.25 percent and 2.375 percent and can be exchanged for equity at certain prices.

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