Tesla chief executive Elon Musk told employees that he will increase scrutiny of the company's expenses in his latest initiative to cut costs at the electric carmaker.But chief executive Elon Musk warns the company is spending $USD200 per month
It is not the first time Tesla has made moves to cut costs, having laid off staff in the last 18 months Tesla earlier this month closed a $US2.7 billion offering of stock and convertible notes, giving it much needed cash as it ramps up production. Mr Musk in an email to employees, seen by Reuters, said its net proceeds from the offering gave Tesla only 10 months to achieve break-even at the rate it was burning cash in the first quarter.
"It is important to bear in mind that we lost $US700 million in the first quarter this year, which is over $US200 million per month," Mr Musk wrote in the email.
Source: News Formal (newsformal.com)
His investors may have finally seen the light with his Ponzi schemes..
ABCscience goldratt
Today’s election sees 140,000 signatories waiting in parliament on the Free Julian Assange Petition, requiring No USA Extradition for Julian Assange. Julian Assange is a Journalist Everyone can sign it. Protect the Free Press click to sign: australiavotes
Try selling something that works, is affordable and is environmentally friendly. monorail
Which may explain why their stock tanked... Funny how that happens whenever he speaks
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