Tesla’s Musk buying over half of SolarCity bond offer – filing

Tesla also introduced new, lower-priced, 60D versions of the Model S and Model X, starting at around $66,000. But Tuesday’s news is unlikely to change the equation on a host of challenges the company faces, from production and finances to regulation.

A 100 kilowatt battery increases the range to an estimated 315 miles by U.S. regulatory standards, or 613 kilometers by a European Union standard, making it the first electric production vehicle to break the 300-mile barrier, according to Tesla. The fastest production auto now on sale is the McLaren F1, which hits the 60mph mark in 3.2 seconds.

The new bigger battery pack also increases the driving range to an EPA-estimated 315 miles and 613km on the European Union cycle, making it the company’s first model to go beyond the 300-mile mark and the longest-range production electric vehicle on the market. As a result the Model S P100D with the aptly named “Ludicrous Mode” will pass 60mph from rest in 2.5 seconds, earning it the title of the third-fastest accelerating production vehicle ever made. It’s also the first electric vehicle to reach a range of 315 miles on a single charge, a 20 mile improvement over the most efficient Model S.

New customers can pay $10,000 for the larger battery pack. Musk said that meant a driver could now travel from San Francisco to Los Angeles in temperate weather without recharging. Tesla Motors chief executive Elon Musk is buying US$65 million (RM261.3 million) of bonds from SolarCity Corp in the latest debt offering by the solar panel company that Tesla plans to acquire for US$2.6 billion, according to a filing yesterday. While those cars are small two seaters with very little luggage space, the pure electric, all-wheel drive Model S P100D has four doors, seats up to 5 adults plus 2 children and has exceptional cargo capacity. The performance versions of the S and X without the new battery now start at $108,000 and $115,500, respectively. The company will be shifting to a new, larger cell with the launch of the Model 3, enabling additional gains for the entire Tesla lineup in the future, he said. In his comments to reporters, Musk said a software update of the feature is nearing completion, adding that it will result in “material improvements in the autonomy of the vehicle”.

To be fair, the Porsche 918 Spyder and the LaFerrari are both capable of that acceleration. But Musk said those were both million-dollar, two-seater specialty cars that can not be purchased new today.