Elon Musk: Tesla needs to cut costs or it will run out of money in 10 months
Defying skeptics, Tesla during the September quarter of 2018 actually managed to turn a profit of $312 million thanks to strong demand for the mass market Model 3. Tesla’s profits for the quarter were far from staggering, but it nonetheless instilled faith that the electric automaker was on a path towards financial viability. Just a few months later, the narrative surrounding Tesla has drastically shifted. When the company last month released its earnings report for the March quarter, it posted a quarterly loss of $702 million. That said, ...
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