Highsnobiety Elon Musk says Tesla could run out of cash in 10 months. 😬

Elon Musk has stated that unless costs are cut, Tesla will run out of money in 10 months’ time, despite having just closed a $2.7 billion offering of stock and convertible notes. In an internal email sent to employees, Musk said, “This is a lot of money, but actually only gives us about 10 months at the Q1 burn rate to achieve breakeven!” He continued, “We lost $US700 million in the first quarter this year, which is over $US200 million per month.” Click here to read how he plans to make it back.