Tesla's Freemont California factory

Struggling to meet production targets, Tesla is burning $8,000 per minute

$8,000

If Tesla continues to burn money at the current pace of $8,000 a minute, it will drain its cash pile by August, 2018, according to Bloomberg.

Published   |  Photo by Reuters/Jim Tanner
Tesla's Freemont California factory
$8,000

Much of that money is devoted to meeting hugely ambitious production targets for the Model 3, which CEO Elon Musk has described as “manufacturing hell.”

Tesla's Freemont California factory
$8,000

The company promised to produce 5,000 units per week by the end of the year, but it got behind schedule and had to push back the deadline.

Tesla's Freemont California factory
$8,000

Tesla deliveries of the Model S, Model X, and Model 3

Tesla's Freemont California factory
$8,000

The company is compounding its challenges with plans for an electric semi-truck and a high-priced roadster.

Tesla's Freemont California factory
$8,000

The company needs to raise at least $2 billion in fresh capital by mid-2018. Until it turns a profit, it will “will remain dependent on the patience and enthusiasm of public markets or the deep pockets of a white knight,” one analyst said.

Published

Check out more stories below—and please take a quick three-minute survey to help us improve.

Share this story

home our picks popular latest obsessions search