Tesla was one month after bankruptcy, reveals Elon Musk – Observer


Tesla was very close to bankruptcy due to the launch of the Model 3. The revelation was made by Elon Musk himself in Twitter.

When asked how close the American company was to bankruptcy when it switched to mass production of the version low price of the electric car, Tesla’s CEO indicated that “closest” was about a month ago, adding that the model’s production and logistics were “hell.”

“Model 3 production has been extremely stressful and painful for a long time, from mid-2017 to mid-2019,” Musk added.

It is recalled that the model 3 series production suffered several setbacks, which proved costly for the brand. And it wasn’t the first time Tesla was on the verge of bankruptcy, Business Insider recalls. In 2008, the company headed by Elon Musk was three days away from bankruptcy, having been “saved” by a last-minute investment of $ 40 million.

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All of these, however, are waters of the past. In the third quarter of 2020, despite the Covid-19 pandemic, Tesla recorded revenues of $ 8.7 billion and a profit of $ 809 million.

Tesla surprises with Q3 results

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