Tesla Model 3's battery-pack size revealed in EPA documents

Tesla shares are up 67 percent this year, pushing the company's market value to about $60 billion, above that of top US automakers General Motors Co and Ford Motor Co, even though Tesla has yet to make an annual profit. The Model 3's curb weight, in contrast, is 3,837 pounds.

Following an EPA leak on Monday, Elon Musk has confirmed that the Model 3 ships with either a 50-kWh battery or a 75-kWh battery.

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The new capital they raised will help finance this expansion of Tesla's production capacity. Up to this point, Tesla's business model has revolved around selling a relative handful of luxury vehicles.

Tesla CEO Elon Musk notes a potential of factory production speed improvement by a factor of 10. Things are going well right now, and raising the money will be much easier than it would be in the future if Tesla (tsla) faced unexpected issues.

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Tesla may have promised that all its newly-made vehicles from October 2016 onward would have the groundwork for self-driving capabilities, but that doesn't mean its technology is set in stone. The Model S also has a larger trunk and can fit more people using rear-facing seats. Consensus analyst earnings expectations stood at a loss of $1.80 per share, but the Street's whisper number indicated that traders were expecting an even wider loss of $1.87 per share. The chief executive officer of London-based TwentyFour Asset Management, which manages $13 billion, said Tesla will need to raise more debt because it's burning so much cash, and it's likely to layer on new secured bonds.

Actually, that makes flawless sense since it was believed that everyone who got their new EVs already was a Tesla Inc. employee, which means they were bound by contract to keep quiet about the Model 3 until every possible issue had been ironed out. The Model 3 is supposed to drive economies of scale by scaling to far higher volumes, and Tesla has said it's adding 1,800 reservations a day for the vehicle. Revenue from Model 3 will fund Model Y (expected in 2019), Tesla Semi (our best guess is 2022), and, most importantly, the master plan of accelerating the world's transition to renewable energy.

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