World News – United States – Musk: Tesla was a month of bankruptcy as Model 3 ramped up – ExtremeTech

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Before Tesla, electric cars looked more like golf carts than the high-performance vehicles that are gaining popularity today But Musk’s EV start-up has always been a long one We have heard many stories of how the company almost fell apart in its early days, but CEO and founder Elon Musk just revealed the company has been on the verge of failure much more recently The Model 3 almost spelled Tesla’s fate, but the same vehicle probably saved it

Like most of Tesla’s goodies, this one comes from Elon Musk’s ruminations on Twitter Unlike most people who run multiple high profile companies, Elon Musk spends a lot of time joking around on Twitter Sometimes, it involves making (patently false) claims about COVID-19, but it gives us insight into what SpaceX and Tesla do at least as often

Responding to a recent tweet about Tesla’s financial situation during the Model 3’s ramp-up, Musk revealed how dire the situation was.The Model 3 was Tesla’s first vehicle at a price, even remotely, close to standard gasoline cars The Model S started around $ 70,000, which is a lot more than what the average car buyer is looking to spend The Roadster, meanwhile, was a little north of that

According to Musk’s tweet, the company was in a month of bankruptcy as it struggled to get Model 3 production up and running at full capacity He also called the process « Production & logistics hell » Musk has even agreed to run the business without a paycheck in 2018, aside from the option to buy more Tesla shares if the business could continue to grow

Closest we got was about a month Model 3 ramp was extreme stress pain & for a long time – mid 2017 to mid 2019 & production logistics hell

Tesla launched the Model 3 in 2017 without the promised $ 35,000 version, but the Model 3 in the middle of the road was still much cheaper than the Model S at the time Interest was high, but the Tesla’s production lagged In the first six months of the car’s availability, Tesla only shipped 1,764 vehicles to customers Even though it sold all the cars it could make, concerns about profitability of Tesla continued until 2019

More recently, Tesla appears to have turned the corner Tesla posted record sales and blocked its fifth consecutive quarterly profit last month, bringing in $ 331 million on $ 8 billion in revenue If this trend continues, Tesla is expected to announce its very first annual profit in about three months It’s come a long way since almost a few years ago

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Tesla, Inc, Elon Musk, Tequila

World News – US – Musk: Tesla was a month of bankruptcy during Model 3 ramp-up – ExtremeTech


SOURCE: https://www.w24news.com

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