$ 8,000 per minute, $ 480,000 per hour. In the last 12 months, Tesla has lost money at the speed of light. Above all, investors are still confident.
Described as one of the world’s leading companies, Tesla’s reputation is not, at this time, translating into cash. According to data released by Bloomberg , the company led by Elon Musk is losing 11.5 million euros per day.
“Whether they can last another 10 months or a year, he needs money, and quickly,” said Kevin Tynan, senior analyst with Bloomberg Intelligence.
The news is surprising, as it comes at a time when the company has just launched three new electric models: a sports car (Roadster), a truck (Semi) and a pickup.
For the news agency, Tesla has no choice but to capitalize on investors who still believe in the brand and will have to get 1.7 billion euros by the middle of 2018. According to forecasts, the company will be without funds in August 2018.
The production of Model 3 is costing 850 million euros per quarter that will not be recoverable, since this model will be sold for 29,700 euros when it reaches the market. After all, investors continue to believe in Tesla and the company is confident that it will be able to recover with the marketing of Model 3.
Tesla shares rose again after the announcement of the Semi and Roadster, so the market value of the company is now at 53 billion dollars, with each share worth 279 euros.