Published: Sun, August 13, 2017
Money | By Armando Alvarado

Elon Musk Denies Giving Assistant 2-Week Test: 'Total Nonsense'

Elon Musk Denies Giving Assistant 2-Week Test: 'Total Nonsense'

According to reports, the Autopilot HW 2.5 update quietly and slowly rolled out for Tesla Model 3, S and X. This means that even older Tesla vehicles will soon be enabled with better computing power and a slightly-improved reliability for the car's self-driving features. Not major for a mainstream automaker - but clearly incredible for a company that only sells electric cars.

Tesla had previously disclosed that its battery pack cost was "below 190$ per kWh" and they aim for Gigafactory production to reduce the cost by 35%.

However, Musk conceded that the biography overall was not entirely flawed, calling it "mostly correct", but saying that the story was "rife with errors and never independently fact-checked" despite his request for that.

Tesla had over $3 billion in cash on hand at the end of the June quarter, compared with $4 billion on March 31. Tesla should be burning through equity, not debt, Holman said.

Meanwhile, the company is burning cash at a rapid rate.

In its first foray into selling pure debt, Tesla offered an eight-year non-call three-year bond that was originally marketed at a size of US$1.5bn.

Pentagon Denies Receiving Orders on Military Action Against Venezuela
Maduro's hand as he cracks down on dissent and blames Washington for his country's economic and domestic strife. Key to the populist rhetoric used by both is a constant drumbeat of warnings that the U.S.

Tesla's flamboyant boss Elon Musk is betting that bond investors will be just as hungry as stock investors.

The capital raise comes sooner than some expected.

Musk hopes to accelerate production cycle time through a combination of plant automation and by designing vehicles for simpler construction - such as the Model 3 and the Model Y.

The Tesla CEO called the massive factory the "alien mothership" during a Monday call with would-be bond buyers. "The timing wasn't good for them", a source told Us.

MORE: Excited for Tesla's Model 3? Selling 5 million shares at a 15 percent discount to market would raise the same $1.5 billion and dilute Musk's 20.4 percent stake by only 3 percent, assuming he didn't pitch in more himself.

That's where the actress and the innovator are apparently most comfortable sharing. The company's "financing model is fragile", tech analysts with Devonshire Research Group said in a research note previous year about Tesla's increasingly complex business model. 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.

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