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Beyond the Model 3 production ramp, Tesla also intends to expand support infrastructure, including its Supercharger and service networks to accommodate a larger customer base. It would use the proceeds to strengthen its balance sheet during rapid scaling of the Model 3.

Tesla finally delivered the first 30 units of the Model 3 this past evening, and now that the production version of the company's mass-market electric vehicle is out in the wild, one key detail has finally been confirmed: the interior is going to look unlike anything else on the market. Last year the company produced 84,000 vehicles, which was a gain of 64% from the prior year. Meanwhile Tesla's stock continued to surge on...faith (?) and no one seemed to give a solitary shit that Tesla's fundamentals were nonsense. Specific interest rates and redemption prices are yet to be determined but this move hasn't been too worrisome for investors.

But to get there, Tesla faces six to nine months of "manufacturing hell" and "production hell", Tesla Chief Executive Elon Musk told workers and reporters last week.

"As a straight bond investor, it's hard for me to think I really want to do this", said Jack Flaherty, a money manager at GAM Holding AG who previously bought Tesla convertible debt.

The $35,000 price of the new model is half the cost of its base Model S - and is considered to be Tesla's first electric vehicle marketable to the middle class.

By late next year, Musk aims to produce cars at a rate of 500,000 per year, a meteoric increase in output.

But last week, Musk clarified his comments, and said Tesla should be able to overcome any supplier issues and other potential obstacles. Patience, though, has its rewards, as is the case with the Tesla Model X. "Obviously, that's like the promised land right there". Standard & Poor's Global Ratings affirmed its B-minus rating on Tesla, saying the boost to liquidity should offset the company's "significant execution risks". During Tesla's quarterly earnings call Musk said "Those cancellations occurred over the course of more than a year". This is key to the company's short-term customer relations and long-term survival, as the Model 3 is now amassing some 1,800 reservations per day. Insiders sold a total of 115,980 shares of company stock worth $36,010,269 over the last three months.

"They are constantly spending on the next big innovation, whether the public knows what that is or not", James Albertine of Consumer Edge Research LLC.


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