While pitching to potential investors, Musk is also busy in making sure that the automobile market remains interested in the upcoming Tesla Model 3. It's betting itself on the Model 3 moonshot, but de-risking the bet by taking out an insurance policy in the form of a $1.5 billion debt offering.
Actually, that makes ideal sense since it was believed that everyone who got their new EVs already was a Tesla Inc. employee, which means they were bound by contract to keep quiet about the Model 3 until every possible issue had been ironed out.
Tesla announced the bond sale earlier this week, though CEO Elon Musk made it known last week that the company was considering using debt markets to raise cash to bring its mass market Model 3 electric vehicle to market.
In a statement, a Tesla spokesperson confirmed the existence of HW 2.5, but played down its significance.
Musk, 46, isn't one to dial down expectations or stay away from painting colorful imagery of his products. Tesla is targeting production of right-hand-drive cars to begin in 2019.
We'll get a better sense of Tesla's self-driving capabilities at the end of the year when the company will demonstrate a coast-to-coast autonomous journey.
Tesla is spending a lot of cash on building out the Fremont, Calif., assembly plant, and its Gigafactory in Nevada. Tesla anticipates the addition of Model 3 production this year will eventually lift plant volume to almost 500,000 vehicles a year. Of all the bogus anecdotes, this one troubles me the most. "We are only at the very start of electric cars".
The real answer may be "never", that is until Tesla has more than a single factory ... meaning several factories (Ford's huge list of combined factories globally can output about 16 vehicles every minute).
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. Now, with the Model Y, it's doing it again. Now it appears that Tesla is hedging its bets by holding this new hardware suite in the wings in the off-chance its current system proves inadequate.