Elon Musk Says 2015 Biography 'Mostly Correct,' But Contests Assistant Firing Anecdote

Sale aim in bonds by Tesla is $1.5B

In addition to being the co-founder and CEO of electric auto company Tesla, Musk was co-founder of PayPal. Not major for a mainstream automaker - but clearly incredible for a company that only sells electric cars. Tesla is a tech company that makes a product through industrial assets that should be financed through debt; doing so optimizes its capital structure.

Returning to some of the more damning anecdotes covered by the biography, Musk said: "There are dozens of bogus or half-true anecdotes [that] don't really matter and maybe five to 10 that do". Another interesting fact is the model may not be called Y - thus killing off the S3XY nomenclature joke. Tesla should be burning through equity, not debt, Holman said.

Tesla has quietly rolled out a new version of its Autopilot hardware, seemingly bringing Elon Musk's firm closer to its goal of fully-autonomous capability.

Tesla's bond will price later this week after several days of meetings with credit investors, who will weigh factors including the absence of a borrowing history, its lack of profit and its high cash-burn rate against its growth potential and its attractiveness as an environmentally friendly "green" issuer. As the company seeks funding through a $1.5 billion bond offering, investors are at odds over whether the risk associated with the investment.

Musk then replied to a tweet by Time magazine promoting the same story, saying: "This is about as true as Time being a paragon of great journalism". However, Musk made it very clear that the 100 kWh battery which propels Tesla's other performance models is a bit too bulky to be accommodated by the Model 3.

Zlatan Ibrahimovic posts intense training video as Man Utd return nears
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Last week's trip onto the earnings stage was no different for Tesla's CEO. In this case, Tesla has done the opposite, he said, giving the Palo Alto, California-based company flexibility to raise more money using Gigafactory 1 as collateral, which would push previous creditors lower in the pecking order to get repaid in case of default.

Levy noted that investors are expecting profitability from Tesla's more affordable Model 3.

The Wall Street Journal reports that the sale is expected to raise $1.8 billion at a yield of 5.75%.

Tesla's unsecured notes will rank bondholders similarly to their convertible-bond counterparts, though they won't reap the same upside reward should the Model 3, or any other success, propel the stock even further.

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