August 8, 2016    1 minute read

Tesla Needs $1.1bn Cash In Q3

   August 8, 2016    1 minute read

Tesla Needs $1.1bn Cash In Q3

The electric car-maker has cash payments and expenditures worth $1.1bn planned for the quarter.

Editor’s Remarks: This is likely to heighten the pressure on the company after founder Elon Musk’s plans to expand into other auto segments and solar energy production, as well as the $2.6bn takeover of SolarCity were not well-received by investors and analysts. So far, Musk has said that his famous Part Deux plan will require “tens of billions” of dollars over the long term, but in the short run, the company has to finish its Gigafactory and get its mass market sedan Model 3 in production next year. At this point, after 13 quarters of straight losses and asking for billions from investors, Musk needs to start delivering or see less confidence for those who will need to back his grandiose plan.

What to watch: Tesla, SolarCity, Gigabyte Factory

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