Elon Musk launches new Tesla Model 3 electric car

Elon Musk launches new Tesla Model 3 electric car

The introduction of the new Tesla Model 3 fires the starting gun on a new era of more affordable cars from the cult Californian electric vehicle company, and next on the hit list is a small crossover called the Model Y, which will arrive in 2019.

The $35,000 Model 3 is the linchpin of Musk's plans to turn Tesla into more of a mass-market manufacturer.

This is an example of how Tesla is disrupting the automotive industry whose youngest established brands are more than 50 years old.

The Model Y's new architecture will use a new approach to electrical distribution, although Musk did not clearly explain how Tesla is doing it.

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

With every conference call, investors naturally want news about upcoming products - and we do too, Tesla didn't disappoint - discussing the upcoming Model Y, a compact SUV.

Until recently, Tesla has used 18650 lithium ion battery cells exclusively to power its two electric vehicle models, the Model S sedan and Model X SUV.

"Model 3 would lead to six months of manufacturing hell", Musk said last month, with his company attempting to make 100,000 units in 2017. Investors desperate for income have depressed the yield gap between single-B-rated junk bonds and U.S. Treasuries by almost 2 percentage points over the past year, to 3.59 points, according to Bank of America Merrill Lynch.

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Whatever new technologies Tesla Motors' new Model 3 might contain as it reaches consumers this year, there is one thing it will contain much less of - and that's wiring.

Moody's assigned a junk "B3" rating to the bond issue and said the company's rating outlook was stable.

Tesla hopes to gain traction for its new Solar Roof by installing the system on its employees' homes, according to TechCrunch.

All in all, it is delays all around Tesla's camp. Tesla should be burning through equity, not debt, Holman said.

Kevin Mathews, global head of high yield at Aviva Investors Americas, compares Tesla's move to what Netflix was able to do in October.

Given that the chassis already exists, its reasonable to assume that would appear by the end of next year at the latest.

Well, it may not be, but it comes at a time when Elon Musk postponed his planned coast-to-coast autonomous trip in a Tesla, so it might be that the company's engineers had underestimated the hardware needed to cope with Level 5 autonomy and are now taking the necessary steps to rectify it.