Tesla Continues to Burn Through Cash

Tesla Continues to Burn Through Cash

Tesla Inc., which has struggled to ramp up manufacturing of the Model three sedan, burned by way of money at a higher fee than analysts anticipated through the first quarter, intensifying strain on the Silicon Valley auto maker to increase extra capital.

Despite the elevated spending, Chief Executive Elon Musk reiterated on Wednesday that Tesla remains to be on tempo to make about 5,000 Model 3s in a single week by in regards to the finish of the second quarter and mentioned the corporate ought to have a revenue, excluding noncash inventory compensation, within the second…

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