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Tesla Inc (TSLA.O)

TSLA.O on Nasdaq

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Latest Key Developments (Source: Significant Developments)

Tesla units enter into the seventh amendment to the ABL credit agreement
Friday, 11 Aug 2017 05:28pm EDT 

Aug 11 (Reuters) - Tesla Inc :Tesla units entered into the seventh amendment to the ABL credit agreement, dated as of June 10, 2015 - SEC filing‍​.Entered into purchase agreement to issue and sell $1.80 billion aggregate principal amount of 5.30 pct senior notes due 2025.Seventh amendment amended credit agreement to permit Solarcity to guarantee notes.Amendment provides that Solarcity will guarantee the credit agreement in connection with its guarantee of the notes - SEC filing.  Full Article

Moody's assigns B2 CFR to Tesla, B3 to unsecured notes‍​
Monday, 7 Aug 2017 02:40pm EDT 

Aug 7 (Reuters) - Moody's::Assigns B2 CFR to Tesla, B3 to unsecured notes; outlook is stable‍​.  Full Article

S&P says Tesla Inc. ratings affirmed following proposed notes issuance; outlook remains negative
Monday, 7 Aug 2017 10:43am EDT 

Aug 7 (Reuters) - S&P Global Ratings::S&P says Tesla Inc. ratings affirmed following proposed notes issuance; outlook remains negative.Says affirmed 'B-' ratings on Tesla despite higher debt leverage following proposed offering to reflect improved liquidity‍​.Negative outlook reflects Tesla's increased execution challenges over next 12 months, raising risks related to sustainability of capital structure.  Full Article

Tesla announces proposed $1.5 billion offering of senior notes
Monday, 7 Aug 2017 06:00am EDT 

Aug 7 (Reuters) - Tesla Inc :Tesla announces proposed $1.5 billion offering of senior notes.Tesla - intends to use net proceeds from offering to further strengthen its balance sheet during this period of rapid scaling with launch of model 3.Tesla - intends to offer $1.5 billion in aggregate principal amount of its senior notes due 2025.Tesla - interest rate, redemption prices and other terms of notes are to be determined.Notes will be senior unsecured debt obligations of Tesla.Tesla - interest rate, redemption prices and other terms of notes are to be determined.  Full Article

Tesla posts qtrly loss per share $2.04
Wednesday, 2 Aug 2017 04:49pm EDT 

Aug 2 (Reuters) - Tesla Inc ::Qtrly GAAP loss per share $2.04.Qtrly non-GAAP loss per share $1.33.Qtrly total revenue $2.79 billion versus $1.27 billion.Model 3 production on track to achieve previously announced targets ‍​.More than $3 billion cash on-hand at the end of Q2‍​.Says expecting positive Model 3 gross margin in Q4; targeting 25 pct margin in 2018.Expect Model S and Model X deliveries to increase in the second half of 2017, as compared to the first half of the year‍​.Says qtrly deliveries grew 53 pct compared to Q2’16 in flat luxury vehicle market.Combined non-GAAP gross margin for Model S and Model X in Q3 will decline slightly from Q2, driven primarily by mix shift.Capital expenditures should be about $2 billion during the second half of 2017.During the initial phase of the Model 3 ramp in Q3, the volume produced will be tiny relative to the installed production capacity.Plan to start production at Gigafactory 2 in Buffalo, New York before the end of the year.Says "although too early to draw strong conclusions, we are seeing an even further increase in net Model S orders since the July 28th event".Tesla inc says Model 3 deliveries to non-employees will begin in Q4.Model 3 gross margin in Q3 to be temporarily impacted by excessive allocation of labor & overhead costs and depreciation over this tiny volume.Produced 25,708 vehicles in Q2, 40 pct more cars than co built in the same period a year ago.  Full Article

Tesla spokesperson says Pete Rive to leave company
Wednesday, 19 Jul 2017 09:37am EDT 

July 19 (Reuters) - Tesla Inc : :Tesla Inc spokesperson says "we can confirm that Pete Rive will be leaving the company to explore new opportunities".Tesla spokesperson says Rive's responsibilities, including work on solar roof, will be distributed among Tesla's existing engineering teams.  Full Article

Sky says chairman James Murdoch appointed director of Tesla
Tuesday, 18 Jul 2017 06:18am EDT 

July 18 (Reuters) - Sky Plc :James Murdoch, chairman of company, has been appointed as a director of Tesla Inc with effect from 13 July 2017​.  Full Article

Tesla says about 3,500 vehicles were in transit to customers at end of Q2
Friday, 7 Jul 2017 12:28pm EDT 

July 7 (Reuters) - Tesla Inc :Update - Tesla Q2 2017 vehicle production and deliveries.Says ‍in addition to Q2 deliveries, about 3,500 vehicles were in transit to customers at end of quarter​.Says ‍delivered just over 22,000 vehicles in Q2, of which just over 12,000 were Model S and just over 10,000 were Model X​.Says Q2 production totaled 25,708 vehicles, bringing first half 2017 production to 51,126.Says major factor affecting Q2 deliveries was severe production shortfall of 100 kwh battery packs, which are made using new technologies on new production lines.Says ‍about 3,500 vehicles will be counted as deliveries in Q3 2017​.Says confident that combined deliveries of Model S and Model X in second half of 2017 will likely exceed deliveries in first half of 2017.Says ‍until early June, production averaged about 40% below demand​.Says finally added a sufficient number of model x cars to test drive and display fleet.Says "there appears to be substantial untapped sales potential for Model X".Says "production quality and field reliability of model x, for which Tesla has been fairly criticized, have improved dramatically".Says "it is now rare for a newly produced Model X to have initial quality problems".  Full Article

Tesla CEO Musk says expecting to complete model 3 SN1 on Friday
Monday, 3 Jul 2017 01:57am EDT 

July 3 (Reuters) - :Tesla Inc CEO Elon Musk says "Model 3 passed all regulatory requirements for production two weeks ahead of schedule" - Tweet.Tesla Inc CEO Elon Musk says expecting to complete model 3 SN1 on Friday - Tweet.  Full Article

Tesla unit enters into an amendment to a revolving credit facility
Thursday, 29 Jun 2017 05:03pm EDT 

June 29 (Reuters) - Tesla Inc ::Tesla Inc - on June 23, 2017 unit entered into an amendment to a revolving credit facility originally entered into on May 4, 2015.Tesla says amendment extended availability period of draws under revolving aggregation credit facility to December 31, 2018 - SEC filing.Tesla - revolving aggregation facility amendment provides for co-requested decrease in total lender commitments under revolving aggregation credit facility to $600 million.Amendment extended maturity date to December 31, 2019.Tesla-Credit facility amendment more closely aligns with co's needs given its transition to greater proportion of cash- & loan-based sales for solar assets.  Full Article

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Tesla shares fall from record high after warning from analyst

SAN FRANCISCO Shares of Tesla fell from record highs on Tuesday after an analyst warned that the electric car maker may take longer than expected to become profitable.