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Elon Musk doubles down on claim Tesla won’t need to raise more cash this year

April 13, 2018 4:34 PM
36 0

The electric-car maker will be profitable and cash-flow positive in the third and fourth quarters, the chief executive officer predicted in an early Friday morning tweet.

That’s a rosy outlook relative to Wall Street expectations. Tesla is projected to burn through about $994 million U.S. in the second half of the year, according to analysts’ average estimates compiled by Bloomberg. Analysts also are expecting adjusted net losses of about $192 million and $35 million in the third and fourth quarters, respectively.

Reasons for Musk’s optimism lie in his assessment of progress making more Model 3 sedans. The 46-year-old billionaire gave CBS This Morning a tour of Tesla’s assembly plant in Fremont, California, and said the company should be able to sustain producing 2,000 of the cars a week after resolving manufacturing issues that had been crimping output.

Source: thestar.com

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