‘Tesla has enough money for this year’
After ‘shocking’ the stock exchange world with his April Fool’s joke on ‘Tesla goes bankrupt’ on Monday, Elon Musk reassured the shareholders in an explanation of the quarterly figures that Tesla doesn’t need to find extra capital this year. “We managed to double production capacity of the Model 3 in the first quarter because we tackled the production problems fast.”
8.180 Model 3 cars delivered
Musk is optimistic about the second quarter and is expecting the production of the Model 3 rising in approximately three months to 5.000 cars a week, the figure previously set for December 2017. Tesla delivered in the first quarter of 2018 some 8.180 Model 3 cars, while analysts aimed before at 8.800.
No extra capital needed
The financial message that “Tesla doesn’t need to raise capital money or issue promissory notes, except through the usual credit lines”, reassured investors. Raising the capital with a strongly decreased rate would dilute the current shares and the stock value.
Tesla shares opened on Tuesday 6% higher and ended at closing time at 263,36 dollar or 4,3% higher than Monday. Tesla’s shares and bonds got a nasty blow last week after the news broke of a second deadly accident with a Tesla car on Autopilot and Moody’s lowering the company’s rating.