Fears about Tesla’s cash situation allayed by the always charismatic Musk
San Francisco — Tesla has put to rest — at least for now — a chorus of concern that it was going to need to raise more money soon, thanks in part to the salesmanship of its CEO, Elon Musk. The company’s cash balance barely budged last quarter even as it struggled mightily to make Model 3 sedans. Paying customers are supporting Tesla through its production struggle — they’ve put down more than $850m in deposits for vehicles including the Semi truck and Roadster sports car Musk showed off in November. Manufacturing setbacks had been limiting the amount of money coming in from customers taking delivery of Model 3s, the linchpin in Musk’s master plan to bring electric cars to the masses. While it’s going to take longer to potentially realise that vision, the CEO of both Tesla and SpaceX has succeeded in captivating consumers in the meantime. His latest promotional stunt involved firing off a sports car into the sky atop the world’s most powerful rocket. "If we can send a Roadster to the...
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