News Worms
News Worms

Tesla is looking to raise $1 billion in stock and debt

Tesla is looking to raise $1 billion in stock and debt

Tesla is set to unveil its most important auto later this year when the drapes come off an all-new compact SUV.

The company raised almost $1.5 billion last May to help ramp up production for the Model 3. As a matter of fact, Tesla revealed a year ago that it could see between 500,000 and a million examples of the Model Y being sold annually. Now it looks that with the advent of this Model Y, the company is off to meet new horizons too.

Tesla right now is 100% focused on getting the Model 3 ready for mass production, which is to say that the Model Y probably isn't even on the company's radar at this point. Autocar released an unofficial render of Tesla Model Y. The group also claimed that the new EV might be a bit more expensive compared to Model 3.

Elon Musk had already stated that the feature may be included with the upcoming model 3 and may not be very costly.

"Model Y (compact SUV) off Model 3 chassis".

Tesla Inc (NASDAQ:TSLA) has been rapidly expanding its showroom footprint as of late, and is primed to open up its first locations in South Korea within the next few days.

The Model 3, priced at close to $35,000 before incentives, is the key in Musk's push to reach mainstream consumers. Well this can be expected from the Model Y as it will be a compact crossover model.

So far, there is no formal announcement yet as to when Tesla will unveil the new Tesla Y Model. This is the reason that its chances of getting famous will also be much higher than other models of Tesla. The company last tapped bond markets in 2014, when it sold $2 billion of convertible notes to help fund its battery factory, Bloomberg data show.

While the Model 3 will run 215 miles on a full charge, the Model Y is expected to run 238 miles on a single charge. The objective is to build 100,000 units of the Model 3 by the end of 2017.


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