Elon Musk promises Tesla will turn a profit in 2018
A new report claims that the EV maker needs a massive cash injection to meet its targets, Musk offered a quick rebuttal
Tesla CEO/Space explorer/Bond villian Elon Musk has been very vocal in recent weeks when it comes to the EV makers production woes. This is down to the total lack of Model 3’s being produced as part of a promise that the company would build 500,000 cars by the end of 2018.
While some of us were kicking back for the weekend, Musk was taking to Twitter to debunk an article by The Economist who cited Wall Street analysts who claim that Tesla will need a bit more cash to ramp up the troublesome production of the Model 3. When we say a bit of cash, we mean a whole stack of paper to the tune of $2.5 to $3.5 billion.
Needless to say, Musk was his usual slick self with a straight to the point response:
All of this Twitter bravado points to Tesla being profitable and in a positive cash-flow position by the third and fourth quarters of 2018. But, everything may not be coming up Elon with Bloomberg labelling Musk’s response “a rosy projection,” predicting the EV maker will burn through some $994 million in the second half of 2018.
After the false dawns of Model 3 production, Musk promised his company would hit his 2,500 unit a week target in the coming months with the current rate according to the CEO himself sitting someway short with 2,000 cars a week rolling out of the factory.
Tesla cannot build the Model 3 quick enough....
Do you think that Tesla will meet the lofty Model 3 production target and turn a profit in 2018?
Let us know your thoughts in the comments.
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Comments (4)
We'll see but Musk has a record of hitting projected targets. He didn't get where he is by "pie in the sky" optimism, he did it with research and hard work. He did it with Space X there's no reason he won't with Tesla.
not bother by telsa
Is it just me or is Tesla really bad at taking negative criticisms?
BMC said that with the mini, but for found they were making a loss on everyone sold. Don't ask me how but Clarkson mentioned on his car years series.