God I can’t wait for the Tesla fanboydom to just be put in its place. Cool concept, not cool people attached to it. M3, lol.
“M3” has and will always refer to a BMW.
Really? Where can I read the official quarterly numbers? Of what quality are these cars? Do they all need to be reworked?
>Musk has repeatedly stated that the company will not need to raise new money
He said that prior to raising cash the last 3 times. He also said he was going to take the company private at $420. For some reason, I'm doubtful.
"I did it for the lulz" is unfortunately not a valid legal defense.
When I first heard that he did 100 hour weeks voluntarily, I was envious of his ability to put that many hours in. I’ve done that once and… vowed never again.
Now I am of the opinion that it broke him and he was unaware of it, and that all of his goals will be better met if he halves his work week.
Much less than that actually. At their current burn rate they won't even be making it to the end of this year without either selling enough M3 to generate some real cash, or by raising some new money from the market. Also, they have a lot of debt come due next year (and even more over the following years) while yields are up to over 8%.
However, M3 production numbers are actually looking good now, and they are hitting their targets for the first time. And their cash burn for Q2 came in lower than expected after some cost cutting. So they might be able to turn the corner just in time. Musk has repeatedly stated that the company will not need to raise new money, but had also done that before some previous financing rounds, so the market does not put that much faith in his words at this point.
It all hinges on the M3 now. Can they get production (and sales) numbers to where they need to be in order to become cash flow positive?