Cars

Tesla Model 3 Runs The Fast-Track For 2017

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It is getting more unlikely for the highly anticipated Tesla Model 3 to miss out on its 2017 target release year as Tesla is getting more and more support with every passing day.

Just last week, the city of Fremont approved Tesla’s request to expand the Gigafactory. The approval means that Tesla can use the extra space to build more Model 3s in the same period of time.

If that is not convincing enough, Tesla has secured credit that can financially hasten the production of the Model 3. Tesla Motors is financially in a $1.2 billion debt right now but the fact that it is showing rapid growth means that it is eligible to gain another $500 million in loans.

Elon Musk responded to these findings by cooling down the hype when he revealed that he will only use the $500 million when required. At the pace the Model 3 is going at the moment, it is unlikely for Tesla to take out the $500 million extra.

On the contrary, the bonus loan helps secure the Model 3 target date of arrival. If things are ever to get messy, Tesla can take out the cash and make things right again.