Right Now Tesla Is Haemorrhaging $8000 Every Minute
Tesla’s incredible rate of spending equates to $8000 for every minute of the last 12 months, according to data from Bloomberg.
The company has spent some $4.2 billion in that time as it developed the Model 3, the Roadster and the electric semi truck. Of course, it has also pulled some money back in through sales of what cars it has been able to build, but the losses are currently pretty huge.
In a letter to shareholders dated 1 November, Tesla insists that it has enough money to ramp-up production and reach its target output of 5000 Model 3s every week by the end of March. After that, it says, money should be flowing in nicely. Deposits for Roadsters and semi trucks will help.
Estimating that Elon Musk will need to raise at least a further $2 billion by the middle of next year, Kevin Tynan, a senior analyst with Bloomberg Intelligence, said:
“Whether they can last another 10 months or a year, he needs money, and quickly.”
At the current rate, the brand is torching cash at a rate of $480,000 per hour, which is frightening. Bloomberg says that very few ‘Tesla watchers’ expect the spending to carry on like that, though, and investors seem to be as confident as ever.
Source: Bloomberg
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Britain have set a goal to ban all electric cars within 2040, and the EU are considering banning them within 2030, which equals the world biggests internal market. In the US 90% of households own a car, if the rest of the world reaches those numbers that is a huge market to fill. Tesla is at the moment the most attractive car company, the model 3 has half a million orders like you said, there has only been half as many Leaf’s sold since 2010. Which proves that as long as Tesla stays in business they have a huge opportunity to become one of the biggest automotive producers of the future. With it’s leading screen technology in production cars, OS made in cooperation with Google, worldleading self driving technology and also at the forefront with battery production (not just for cars). The Tesla is the car of the future.
I don’t know why, I like their cars but for some reason I just want them to fail