TEMPO.CO, Jakarta - Tesla Inc. said on Monday, August 7, 2017 it will raise about US$1.5 billion (Rp20 trillion) through bond offerings to boost production of its newest electric sedan, the Tesla Model 3.

The offer came after Tesla received thousands of bookings for Tesla Model 3 with an average of 1,800 units per day since the car was launched late last July.

Tesla, led by Elon Musk, relies on Model 3 as a car that is sold at a price that is not too high in order to become a producer of massive electric cars that generate profits.

See also: Tesla Provides First Look at Cheaper Model 3 Sedan (Photos)

At the launch, Musk said the company will face "at least six months of hell during the manufacturing process" as it has to increase production of the Model 3 which has a base price of US$35,000 (approximately Rp466 million).

Actually, Tesla has more than US$3 billion in cash at the end of the second quarter, compared to US $4 billion at the end of the previous quarter and US$3.25 billion in the previous year.

Tesla's cash loan, estimated at US$2 billion this year, has encouraged short-selling sellers like Green Eowlon from Greenlight Capital to bet against Palo Alto, California, as said by Reuters.

ANTARA