"The major challenge facing the company during the next twelve months will largely be the considerable execution risks associated with the rapid ramp-up in production of a totally new vehicle", the agency's senior vice president Bruce Clark said in a statement.
Moody's is rating the bond B3 with a stable outlook and Standard & Poor's assigned a "B-" rating for the bond issue.
Tesla hopes the Model 3, which debuted at the end of July, becomes a trendsetting and profitable vehicle capable of rocketing the Silicon Valley company atop the electric vehicle industry for years to come. Meanwhile, the Model X P100D, the flagship model of the line boasting longer range and more horsepower, starts at $145,000 when bought with cash. The Tesla Owners Italia club recently traveled 669.83 miles in a Model S 100D on a single charge with a team of five drivers. Shares dropped slightly Monday on the news of the borrowing.
Tesla also is involved in installing solar-paneled roofs and producing batteries that can store the energy and power homes. At the handover event, Tesla curiously didn't mention specifications on the electric motor powering the Model 3 and also kept the battery capacity on either version a mystery.
Additionally, as a recent range test by Consumer Reports shows, some performance aspects of these high-end vehicles are incredibly comparable to features in more affordable models. The company just announced that it shipped 47,000 cars in the first half of 2017.
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