FIRST AIRED: August 7, 2017

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Transcript

00:00:02
>> Tesla saying Monday it plans to raise about $1.5 billion in a bond offering to ramp up production of its Model 3 electric sedan. Thousands of advanced reservations have already been made for the Model 3. The automaker is averaging about 1,800 per day since the car's launch in late July.
00:00:21
Tesla is banking on the Model 3, its least pricey car, to become a profitable mass market electric car. Elon Musk says his company will face at least six months of manufacturing hell as it increases production of the car which has a $35,000 base price. At the end of the June quarter, the Palo Alto, California-based company had over 3 billion in cash on hand, compared with 4 billion at the end of the previous quarter.
00:00:49
Tesla's cash burn is expected to top 2 billion this year, prompting short sellers like Greenlight Capital's David Einhorn to bet against it. Shares of Tesla have risen 67% this year.