Here's Everything Tesla Is Planning For the Next Three Years (TSLA)

A prototype mockup of the Model 3

Whatever new technologies Tesla Motors' new Model 3 might contain as it reaches consumers this year, there is one thing it will contain much less of - and that's wiring.

Tesla is counting on the Model 3, its least pricey auto, to become a profitable, high-volume manufacturer of electric cars. Tesla Model 3, on the other hand, did not have a functional self-driving hardware when the first batches came out of the assembly line recently.

The long-range Model 3, meanwhile, comes with a hefty price premium over the regular Model 3. Sharing underpinnings with that vehicle means the Model Y is likely to have a similar range, which is officially pegged at 220 miles, or 320 miles with the long-range battery pack - although battery technology may have moved on by the time the Model Y launches, bringing with it commensurate increase in range.

Earlier in the week, Elon Musk's luxury electric auto maker was expected to raise at least $1.5 billion to accelerate production of its new Model 3, but strong demand allowed the carmaker to raise more, albeit at a slightly higher yield than expected.

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Musk also said on Twitter that there were "dozens of bogus anecdotes" that he could cite and even offered to provide a list after several fans voiced support. The Model 3 is supposed to drive economies of scale by scaling to far higher volumes, and Tesla has said it's adding 1,800 reservations a day for the vehicle. Nevertheless, it's still a very important auto to the industry.

Tesla aims to produce 100 Model 3s this month but wants to ramp up production to 5,000 cars produced weekly by December of this year.

Although Tesla has made cost savings with the Model 3, Musk has stated before his ambition to "anti-sell" the vehicle and encourage buyers to opt for the Model S or X instead. The curb weight on the Model S is ~4,600 - 4,750 pounds for the 85kWh variants and rises to 4,960 pounds for the P100D with its larger battery. In fact, this has turned out to be the opposite situation. Seeking Alpha calls this deal "singularly unique", in that few companies with the market capitalization of Tesla at $59 billion carry speculative grade debt ratings.

Meanwhile, the company is burning cash at a rapid rate.

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