Tesla Burns Through Record Cash to Bring the Model 3 to Market
- Shares jump as CEO says he’s never felt better about prospects
- Carmaker considers padding its coffers through debt offering
Tesla Burns Through Less Cash Than Expected
This article is for subscribers only.
Tesla Inc.’s Elon Musk keeps getting the green light to do what it takes to bring electric cars to the masses, regardless of how much it’s going to cost.
The company burned through $1.16 billion in cash in the second quarter by spending on capacity for its cheapest model yet and boosting battery output. Investors fixated instead on what Musk said is coming next: Hundreds of thousands of Model 3 sedan deliveries, installations of solar roofs and an all-new semi truck to add to the lineup.