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Tesla Falls on Cash Concerns, Doubt About Manufacturing Goals

  • Musk says `makes sense' to raise some amount of money
  • Analyst sees aggressive targets teeing up disappointment
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Tesla's Risks and Roadblocks to 500,000 Vehicles

Tesla Motors Inc. fell Thursday after the company, aiming to dramatically boost production, withdrew its projection to generate more cash than it uses this year and said it will probably need to raise capital.

Shares in the electric-car maker fell 4.9 percent to $211.71 at 1:28 p.m. New York time. The shares had surged late Wednesday and early Thursday after Tesla moved ahead by two years its target date for reaching annual production of 500,000 vehicles before sinking on skepticism about the ambitious assembly goals and concerns about cash.