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New Sasol GTC cars set for thrills

The iconic Grand Prix Circuit will present a new challenge to the GTC drivers as they tackle the country’s fastest racetrack on June 16.

Suzuki’s new Swift hatch and sedan in SA

Suzuki kicks off its new model assault with an all new Swift hatchback and standalone sedan called the Dzire.

In push to get its Model 3 electric car to masses, Tesla starts raising cash

2017-08-07 14:01

Image: Tesla

California - Tesla is raising $1.5-billion as it ramps up production of the Model 3 sedan, its first mass market electric car.

The company said Monday that it planned to offer senior notes due in 2025 and would use the offering's proceeds to further strengthen its balance sheet during rapid scaling of the Model 3.

Last week CEO Elon Musk said investors should have "zero concern" about whether Tesla will be able to make 10 000 Model 3s per week by next year. Tesla just delivered the first 30 Model 3s to employees two weeks ago.

Musk worried some investors when he warned that Tesla was about to embark on "at least six months of manufacturing hell" as it attempts to get Model 3 production to 5000 cars per week by December.

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