Tesla Model 3 battery output revealed

While Tesla previously stated the Model Y would sit on an all-new platform, the lure of sharing complex mechanical components has clearly become more attractive and founder Elon Musk has now confirmed the Model Y will share its backbone with the Model 3.

Tesla CEO Elon Musk had a few words for the author who retold the story of his longtime assistant, Mary Beth Brown, a woman who quit working for Musk after 12 years, in 2014.

The move to issue junk bonds - lower-quality investments that offer higher yields - represents a bet by Tesla Chief Executive Elon Musk that bond investors will be as hungry as stock investors to back the company on expectations that its Model 3 will be a hit.

Levy noted that investors are expecting profitability from Tesla's more affordable Model 3.

Musk had agreed that he would give her the raise after two weeks of him doing her job, so he could assess how valuable she was to the company. Hopefully, they will find another letter that will add to something nice when joined by the rest of the lineup.

That's why a $1.5bn (£1.15bn) bond issuance by electric carmaker Tesla - which matches such a description - is no exception. That roughly corresponds with when Tesla started to catch on as a baby name.

Musk's electric auto shop scores a B- rating from Standard & Poor's.

Preliminary EPA documents, discovered by Inside EVs, show the Tesla Model 3 Long Range model utilizes a battery of 80.5 kilowatt-hours. On an earnings call previous year, he said a California factory would soon be an "alien dreadnought" that would efficiently pump out new cars.

But even as Friday's deal seemed to be going well, many fixed-income accounts expressed some scepticism about a deal from a company that has been burning through cash.

The improvement underscores the fine line Tesla has to walk with when it comes to upgrades, Engadget said.

Last week, Tesla said that it was planning to spend about $2 billion in capital expenditures during the second half of the year as they ramp up the production of Model 3.

The result: Buyers of these unsecured, high-yield bonds could find themselves buried under a mountain of newer, higher-priority debt sold in the future.

Shares of Tesla closed down 0.5 percent at $355.17 on Monday.

Vanessa Coleman

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