The billionaire coined that moniker for Tesla's Gigafactory 1 as he waxed poetic about his company's future on an August 7 call with would-be bond buyers.
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. Scaling up Model 3 production, in contrast, means dramatically increasing Tesla's monthly raw materials supply, battery production, and manufacturing speed.
If the introduction goes as planned, the Model 3 will take Tesla and its sole assembly plant into the realm of high-volume production.
Given that this is the first time Tesla is going to the debt markets with a straight bond offering, there is no real precedent with which to assess market appetite.
Despite TSLA stock advancing more than 50% since the start of this year, Tesla the company has attracted a veritable flood of negativity - no thanks to Elon Musk.
Tesla and Musk seem to be the center of controversy these days. The five members of the Italian Tesla Owners Club took turns driving the vehicle one-by-one.
The new capital they raised will help finance this expansion of Tesla's production capacity.
"However, we still expect to achieve full self-driving capability with safety more than twice as good as the average human driver without making any hardware changes to HW 2.0", the spokesperson said. Let's say you placed an order for the Model 3 back in November past year. The chief executive officer of London-based TwentyFour Asset Management, which manages $13 billion, said Tesla will need to raise more debt because it's burning so much cash, and it's likely to layer on new secured bonds. If successful in ramping the Model 3, Tesla's sales will rise from $7 billion in 2016 to $22 billion in 2018, at which point a middle-income family will be able to afford an electric (and eventually autonomous) vehicle. However, Musk made it very clear that the 100 kWh battery which propels Tesla's other performance models is a bit too bulky to be accommodated by the Model 3.