Connect with us

News

Tesla to raise $783 million with sale of prime auto leases: Bloomberg

Credit: Tesla

Published

on

Tesla is set to raise additional funding by selling debt backed by automotive leases, and a report says that the debt sale could price as soon as next week.

On Thursday, Bloomberg reported that Tesla is already pre-marketing a $783 million debt sale backed by leases from prime borrowers, citing a person familiar with the matter who asked to remain anonymous. The sale is reportedly being led by French firm Societe Generale, and it’s expected to be officially priced next week.

Bloomberg also explains that Tesla priced a $750 million ABS deal with a 5.53 percent coupon on its top tranche.

Asset-backed security (ABS) sales are increasingly common with automakers, and this particular debt sale would be Tesla’s second such transaction this year. This deal lets Tesla access liquid finances without taking on other debts that could otherwise cost the company more.

Why Tesla CIO’s exit might be a good sign for Robotaxi: Opinion 

Last year, Tesla securitizations totaled around $4 billion, though the company hasn’t utilized securitizations quite as often as many legacy automakers. Ford, for example, priced a $1.7 billion deal just on Thursday.

Advertisement
-

The news also comes ahead of Tesla’s Robotaxi unveiling event on Thursday, dubbed “We, Robot,” which many expect to be a pivotal moment for the company. Tesla has been teasing a Robotaxi platform based on its camera-based Full Self-Driving (FSD) software for years, and the company earlier this year highlighted early looks at a ride-hailing Robotaxi platform.

Tesla will also hold its Q3 earnings call on October 23, though the company already reported delivering 462,890 vehicles in the third quarter earlier this week. The company also said it deployed 6.9 GWh of its Megapack and Powerwall energy storage products, meaning that Tesla has also surpassed its full-year 2023 energy deployments with another full quarter to go.

You can follow along with Tesla’s upcoming Q3 earnings report at the company’s Investor Relations site here.

Tesla’s ‘big week’ set to get automaker back on track with big picture story: firm

What are your thoughts? Let me know at zach@teslarati.com, find me on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Advertisement
-

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

Advertisement
Comments

News

Tesla launches improved Model 3 in China with V2L, new interior option

Published

on

Credit: Tesla

Tesla has launched its newest iteration of the Model 3 in China with a slew of new features, including the highly requested V2L (vehicle-to-load) feature and a new interior option.

The Model 3 now has a 16″ front touchscreen with improved resolution, a black headliner, V2L capabilities, Zen Grey interior in the Premium and Performance trims, as the White option has officially been discontinued, and 19″ Dark Nova Wheels, which are standard on the Model 3 Premium only.

The touchscreen in the U.S. version of the Model 3 is just 15.4″, so the newly upgraded screen is .6″ larger. Additionally, the Black Headliner, now standard on Model Y vehicles in the U.S., is coming to China.

Advertisement
-

Additionally, Tesla’s decision to end the white interior option has also made its way to the Asian market, as Zen Grey is the lighter color consumers can now go with. It is slightly different from the previously offered White option:

These options are available in China, Australia, and New Zealand as well, as Giga Shanghai serves those markets, bringing its mass-market vehicles to those countries in the South Pacific.

The Model 3 trims are now priced at:

  • Rear-Wheel-Drive – 235,500 yuan (~$35,000)
  • Long Range Rear-Wheel-Drive – 259,500 yuan ($38,700)
  • Long Range All-Wheel-Drive – 285,500 yuan (~$42,600)
  • Performance – 339,500 yuan (~$50,600)

These features have yet to make their way to the U.S., which might upset some buyers, but it is probably a good sign that Tesla will bring these changes to U.S. trims sometime next year. Potentially, these could come even sooner, as they could be used to stimulate demand for the year-end sales push.

Nevertheless, when things start at Giga Shanghai, they usually end up in the U.S. market. Tesla has also already started to install things like the Black Headliner and larger touchscreen in certain U.S.-built vehicles, so these things will be easy to implement across other vehicles in the lineup.

Continue Reading

Elon Musk

The Pentagon taps Elon Musk to design the battlefield of the future

Hegseth named Elon Musk to help lead Project Meridian, a Pentagon study of future warfare.

Published

on

By

Elon Musk has a new role in the Trump administration. Defense Secretary Pete Hegseth announced on war.gov Wednesday that Musk will help lead Project Meridian, a new Pentagon study meant to identify the weapons and technologies the U.S. military will need to fight wars decades from now.

Hegseth unveiled the project during his State of the Force address at Marine Corps Base Quantico in Virginia. Musk will direct the effort alongside Anduril founder Palmer Luckey and former House Speaker Newt Gingrich, working under Pentagon Chief Technology Officer Emil Michael. All three men were in attendance, and Hegseth said their first meeting would take place directly after the speech inside a secure compartmented facility, according to The Hill.

Hegseth said the group “will be focused on discovering, developing, and fielding the weapons and systems that our children and our grandchildren will need in their lifetimes, without any creative limitations or restrictions, on any future battlefield, from under the Earth to beyond the Moon.” He added that Meridian is not meant to produce new strategy or policy documents.

SpaceX to become America’s Military data backbone for missiles, drones, and warfighters

A memo released after the announcement gives Michael until January 28, 2027, to deliver findings, a window of 120 days. It names artificial intelligence, autonomy, directed energy, robotics and biotechnology as the fields expected to change how wars are fought. The results will come as a public report with a classified annex. The memo says the study will run through a partner organization it does not name, and it does not mention Musk directly. His role comes from Hegseth’s speech and a Pentagon press release.’

Musk had not commented publicly on the appointment as of Wednesday evening. This will be Musk’s first official advisory role in the administration since he left DOGE last year.

Advertisement
-

The mandate overlaps heavily with Musk’s companies. SpaceX is one of the Pentagon’s largest contractors, with 2026 defense awards topping $8 billion, much of it tied to launches and a suspected Starshield buildout out of Vandenberg. The Pentagon’s release says Meridian will examine domains “from subterranean depths to the cislunar frontier,” which maps onto The Boring Company’s tunneling and Starship’s lunar plans. Tesla’s work on autonomy and Optimus falls within the fields the memo lists.

Meridian was one of six initiatives Hegseth announced Wednesday. Another is a new Autonomous Warfare Command, which the department wants operating as a four-star combatant command by October 1, 2027.

The news lands a day before SpaceX is scheduled to fly a classified National Reconnaissance Office payload on Falcon Heavy, one of three launches the company has planned for Thursday.

Continue Reading

News

SpaceX set to launch astronauts and a classified Falcon Heavy mission on the same day

SpaceX plans three launches Thursday, including Crew-13 astronauts and Falcon Heavy’s first classified NRO mission.

Published

on

By

Crew Dragon sits atop Falcon 9 at sunrise on Cape Canaveral's pad 40, less than a day before four astronauts are set to launch to the ISS. (Credit: SpaceX)
Crew Dragon sits atop Falcon 9 at sunrise on Cape Canaveral's pad 40, less than a day before four astronauts are set to launch to the ISS. (Credit: SpaceX)

SpaceX is lining up one of the busiest single days in its history, and the company offered a preview on Wednesday morning with a simple post on X: “Sunrise at pad 40.” The video and photos show Falcon 9 standing at Space Launch Complex 40 at Cape Canaveral, roughly a day before it is scheduled to carry four astronauts to the International Space Station.

That launch is only the first of three SpaceX missions planned for Thursday, October 1, across both coasts.

Crew-13 is targeting liftoff at 11:10 a.m. ET, with a backup opportunity Friday at 10:47 a.m. ET. NASA astronaut Jessica Watkins will command the mission, with NASA’s Luke Delaney as pilot and Canadian Space Agency astronaut Joshua Kutryk and Roscosmos cosmonaut Sergey Teteryatnikov serving as mission specialists. According to NASA, Dragon is set to dock with the forward port of the station’s Harmony module around 8 p.m. ET, less than nine hours after launch. Watkins is the only member of the crew who has flown before, and Kutryk will become the first Canadian to reach orbit through NASA’s Commercial Crew Program.

The Falcon 9 booster is flying for the third time after supporting Crew-12 and a Starlink mission, and it will attempt a landing at Landing Zone 40 beside the pad. That site made its debut in February when the Crew-12 booster touched down there, as Teslarati reported at the time. Crew-13 will relieve the Crew-12 astronauts, who have been aboard the station since the middle of February.

Advertisement
-

On the West Coast, another Falcon 9 is scheduled to lift off from Vandenberg Space Force Base in a window running from 2:18 to 3:16 p.m. ET, a flight NASASpaceflight lists as a Transporter rideshare mission.

The day is set to close at 11:53 p.m. ET, when Falcon Heavy launches from Launch Complex 39A with NROL-97, the first National Reconnaissance Office payload ever to fly on the rocket. SpaceX rolled the vehicle out to the pad Tuesday night. Its two side boosters, which previously flew GOES-U, ViaSat-3 F3 and NASA’s Roman Space Telescope, will return to Landing Zones 1 and 2, while a new center core will be expended in the Atlantic. The Roman launch took place on August 30, so NROL-97 will come barely a month later as Falcon Heavy’s third flight of 2026 and 14th overall.

NASA taps SpaceX to launch the telescope that could unlock new worlds

If all three Florida boosters land as planned, it would be the first time the Space Coast has seen landings at LZ-40, LZ-1 and LZ-2 on the same day, according to the Orlando Sentinel, which has warned residents in Brevard, Orange and Volusia counties that more than one sonic boom is possible.

The schedule arrives just three days after Starship reached orbit for the first time on Flight 14 from Starbase, Texas, deploying 26 Starlink V3 satellites. If Thursday’s missions stay on time, SpaceX will have flown Starship, Falcon 9 and Falcon Heavy from four different pads in about four days.

Crew-13 is also the start of a longer run for Dragon. NASA recently added Crew-15, Crew-16 and Crew-17 to SpaceX’s contract in a $946 million modification, keeping Dragon as the agency’s only operational ride to the station while Boeing’s Starliner remains grounded.

Advertisement
-
Continue Reading