Tesla looks to raise $1.15 billion as it preps for Model 3

Tesla Model 3 prototype

Tesla Model 3 prototype

As avid Tesla followers might now, Jack Northrop Avenue is also where the Model 3 did its test rides when it was first unveiled a year ago, 2016.

Tesla Inc. said Wednesday that it plans to raise up to $1.15 billion with stock and convertible debt offerings to help finance the launch of its widely anticipated Model 3 mid-market sedan. The California-based company now aims to expand business, but it is not doing away with the vehicle business. "But we get very close to the edge, then that's probably not the very best thing for shareholders on a risk adjusted basis so we are considering a number of options, but I think it probably makes sense to raise capital to reduce risk".

Automobile enthusiasts recently spotted the recent prototype for the Tesla Model 3 in a new teaser video. The company's CEO has also said that the company plans to release the Tesla Model Y before either of these two vehicles.

Another major feature that Musk says is coming to with the Tesla Model Y is a more powerful computer.

Eat Pie, Pizza At A Discount In Honor Of Pi Day
Hungry Howie's is also offering $3.14 medium one-topping pizza on March 14 with the purchase of any Howie Bread at regular price . Sauce Pizza & Wine is offering $3.14 cheese pizzas to anyone who mentions Pi Day when ordering either dine-in or take-out.

Tesla turned a rare profit in the third quarter of 2016, after Musk implored employees to cut costs and "deliver every auto we possibly can".

Along with the CAFE rule, federal tax credits worth up to $7,500 for a qualified electric vehicle that incentivized EV sales, may not be renewed by Congress. The convertible notes will change into cash or shares of Tesla stock (at the company's election) in 2022, with interest rates and other terms to be determined. "Thankfully we were there to capture it for our fellow Tesla fanatics". Korea's pre-orders for Model 3 exceed Japan's, a staff said.

The Model Y will be based around the same platform as the Model 3 and considering the ever-increasing demand for crossovers, has the potential to be Tesla's highest selling vehicle.

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