Elon Musk envisions a glorious future when fleets of Tesla robo-taxis earn money for Tesla owners and make all other automobiles instantly obsolete. So far this year, however, Tesla’s financial situation looks bleak.
Elon Musk envisions a glorious future when fleets of Tesla robo-taxis earn money for Tesla owners and make all other automobiles instantly obsolete. The future, he said in a presentation this week, starts next year.The company reported Wednesday that automotive revenue in the first quarter fell 41% to $3.7 billion from $6.3 billion in the previous quarter, a far steeper drop than expected for sales of all its electric-cars — the Model S, the Model X and the Model 3.
Operating cash flow turned negative — a net $640 million going out the door over the three months versus a positive $1.23 billion in the previous period. As recently as January, with the decline in Tesla sales underway, Musk told analysts he was “optimistic” about a first-quarter profit. “Not by a lot, but I’m optimistic about being profitable in Q1 and for all quarters going forward,” he said then.
Where the money for such projects will come from is unclear. Musk was asked why he doesn’t raise money through a debt or equity sale. Musk said he’d rather focus on efficiency first. “I don’t think raising capital should be a substitute for making the company operate more effectively,” he said. “I think it’s healthy to be on a Spartan diet for a while.”
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Cramer: Elon Musk is the P.T. Barnum of our time — call him 'P.T. Musk''I just keep finding it's a three-ring circus with the guy. It's kind of annoying but he's exciting,' says CNBC's Jim Cramer.
Baca lebih lajut »
Elon Musk claims Tesla will have 1 million robotaxis driving next year — that's optimisticThe Tesla CEO warned investors, 'Sometimes I am not on time, but I get it done.'
Baca lebih lajut »
Elon Musk told this Reddit user they 'should interview at Tesla' — here's whyElon Musk told this Reddit user they 'should interview at Tesla' — here's why via CNBCMakeIt
Baca lebih lajut »
Tesla investors await updates from Elon Musk on service, the Shanghai factory and Model 3 marginsTesla investors await updates on service improvements, the Shanghai Gigafactory and Model 3 margins.
Baca lebih lajut »
Elon Musk says Tesla will begin offering its own insurance to customers next monthTesla CEO Elon Musk said on Wednesday that the electric-car maker will begin offering a new insurance product to its customers in around a month.
Baca lebih lajut »
Elon Musk says Tesla will develop a 'quiet electric leaf blower'Tesla's CEO has an idea for extra Tesla parts. Elon Musk says his company is planning to develop an electric leaf blower.
Baca lebih lajut »
Tesla's Musk 'sees merit' in capital raise, vows profit in third quarter after large lossTesla Inc Chief Executive Elon Musk suggested on Wednesday a capital raise could...
Baca lebih lajut »