And a German consortium of companies led by Frankfurt-based start-up TerraE Holding GmbH is currently preparing to set up its own 34-watt-hour lithium-ion battery cell production facilities, touted as Germany's answer to the Gigafactory.
Editor's Remarks: Elon Musk said last week that Tesla may issue debt, but would not raise new equity, as its second quarter results showed a very high cash burn. Many critics seem to believe so - with an MSRP of $35,000, the Model 3 is certainly more cost-effective than previous Tesla cars.
The offer came after Tesla received thousands of bookings for Tesla Model 3 with an average of 1,800 units per day since the car was launched late last July.
The company is also moving away from the third-party solar model which it pioneered to a higher portion of direct sales, while scaling back its ambition for growth.
The company's official club in Italy, Tesla Owners Club Italia, took up the challenge. Tesla is targeting production of right-hand-drive cars to begin in 2019. The goal of the trip was understand the ease of transitioning from fossil fuels to alternative and sustainable power sources. The debt offering could further tarnish Tesla's already battered financial image, because the junk bond markets are usually littered with companies that are less creditworthy and add debt faster than they can accumulate profits.
Tesla expects to manufacture 5,000 of the sedans every week by the end of 2017 and double that in 2018. Additionally, competitors will want a piece of the pie, which means they'll launch products to compete directly with the Model 3 at cost and features.
Moody's Inverstors Service assigned Tesla a B2 corporate family rating and slapped a B3 rating on the company's offering of senior unsecured notes. "This is maybe the best I've ever felt about Tesla, to be frank".