Published: Thu, March 16, 2017
Technology | By Timothy Carter

Tesla to raise $1.15 billion in series of offerings

Tesla to raise $1.15 billion in series of offerings

Model Y will be an entry-level electric compact SUV based on the platform of Model 3, reports Autocar. Initially, Tesla's plan consisted of releasing the Roadster to fund development of the Model S and to then use those Model S profits to fund the design and manufacturing process of the Model 3. Around 7 million crossovers were sold all over the USA a year ago that can become a fate of Model Y if it gets famous. According to reports there will be a range of options, like in the Model S and Model X, potentially including a "Ludicrous" speed package taking the mid-sizer to a ridiculous 0-100km/h time. Both Model 3 and Model Y are expected to have the feature.

One approaching and unanswered question about the Telsa Model 3 is the dashboard in the centers, and on how it ultimately look like.

The Model 3 prototype seen on the video has all the stuff fans can expect on a camera-ready vehicle. It is also expected with eight cameras for 360 degrees view as well as 12 ultrasonic sensors.

Tesla Inc (NASDAQ:TSLA) has been rapidly expanding its showroom footprint as of late, and is primed to open up its first locations in South Korea within the next few days.

All visitors can see firsthand the U.S. carmaker's vehicle models, while those who make prior reservations will be given a chance to actually drive a Tesla auto, according to officials from Tesla Korea.

As Tesla has grown more successful with each passing year, the company's plans for EV domination has become far more ambitious. The company is looking to make half a million vehicles in 2018 and would like to reach the "million" figure by 2020. A total of 2 billion dollars has been injected into the franchise since 2010 in order to construct the Giga-factory battery plant and to expand the production all the way to 500,000 units a year by 2019.

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