Hyperdrive

Musk Reopens Door to Tesla Capital Raise After Cash Setback

Model 3 maker finished quarter with just $2.2 billion on hand
CEO sees ‘merit’ to raising money after quarterly loss

Tigress CIO Says Tesla Should've Been More Conservative, Earnings Delay Isn't a Concern

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Dana Hull and David Welch

April 24, 2019 at 9:32 PM UTC

Updated on

April 25, 2019 at 1:46 PM UTC

This article is for subscribers only.

Elon Musk’s declarations that Tesla Inc. was done losing money and needing to raise more cash turned out to be premature.

The chief executive officer is reopening the door to seeking capital for the maker of the electric Model 3 sedan after posting a bigger-than-expected loss for the first quarter. A record drop in deliveries, combined with the company’s largest-ever debt payment, depleted cash to the lowest level in three years.