Elon Musk Says Tesla Came Within A Month Of Bankruptcy While Scaling Up Model 3 Production

Elon Musk has shown that Tesla was approximately one month away from prosecution although it had been hoping to ramp up production of the Model 3.

While speaking with supporters on Twitter about the electric automobile maker ’s fundraising history, Musk was asked just how shut Tesla was to insolvency while “creation hell” with the Model 3.

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Closest we had was about a month. The Model 3 ramp was intense stress and pain to get quite a long time — from mid afternoon 2017 to mid 2019. Production & logistics hell.

— Elon Musk (@elonmusk) November 3, 2020

“Closest we got was about a month. The Model 3 ramp was intense stress and pain to get quite a long time — out of mid-2017 into mid-2019. Production & logistics hell,” Musk replied.

Funnily enough, it was around April 1, 2018 if Musk shared an image online of him leaning against a Tesla carrying a cardboard sign reading “Bankwupt. ” He wrote on Twitter that “despite extreme efforts to raise money, such as a last-ditch mass sale of Easter Eggs, we are sad to report that Tesla has gone completely and totally shattered. Thus broke, you can’t believe it. ”

Elon was found passed out from a Tesla Model 3, then surrounded by”Teslaquilla” bottles, the paths of dried tears visible on his cheeks.

This isn’t a forward-looking statement, because, of course, what's the point?

Happy New Month! pic.twitter.com/YcouvFz6Y1

— Elon Musk (@elonmusk) April 1, 2018

At the moment, it had been obvious that Musk was joking around. Who knew just how near insolvency the automaker was.

In ancient 2019, CNBC notes Tesla acquired a bit of a lifeline when it raised billions of dollars by promoting its self-driving ambitions using all an Autonomy Day occasion. Musk said that the car manufacturer would be able to finance its business requirements with present cash flow at the time and said that it had been raising money in the event of a downturn or weak global demand for vehicles.

Tesla has come a long way since its brush with insolvency. Not only is the Model 3 being made at the firm ’s primary assembly website in California but it’s also being generated at the Shanghai Gigafactory which could produce as much as 150,000 Model 3s annually.

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