• Elon Musk Reportedly Confirms Tesla Would Be out of Money in 10 Months

    4 days ago - By Hypebeast

    Elon Musk has reportedly told Tesla 's employees that the company will run out of cash in 10 months if no changes are made in an all-staff email - which was obtained and reviewed by Reuters - on Thursday. The CEO's message comes after the electric vehicle-manufacturer ended Q1 of 2019 with $2.2 billion USD in cash, and raised a further $2.7 billion USD to keep the company afloat in light of a $702 million USD loss that quarter.
    “This is a lot of money, but actually only gives us about 10 months at the Q1 burn rate to achieve breakeven!” writes Musk. “This is hardcore, but it is the only...
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