You shoot me down but I won’t fall. I am titanium.
Elon Musk, founder of Tesla, must be humming that tune this morning after announcing a solution to the two car fires that dented the electric car maker’s reputation last year.
The Wall Street analysts waiting eagerly for details of Tesla Motors’ planned “Gigafactory” will have been disappointed by the cursory treatment the project got on Wednesday, as the company announced plans to raise $1.6bn.
After all, this is the massive battery-making plant that is meant to cement Tesla’s rise as the world’s first mass-market electric car maker. According to an expansive report by a Morgan Stanley analyst earlier in the week, it could also make it the dominant player in a $1,500bn market for selling energy storage devices to electric utilities.
The Tesla Model S was Motor Trend car of the year last year and starts at a base price of $62,400. So how could you get one for an all-in cost of $500 a month?
Simple: start by valuing your own time at $100 an hour. That, at least, is according to the creative accounting that Tesla has just come up with for a new lease deal for the vehicle.