2013-01-11

Co.Exist

Is Tesla Out Of Money?

Despite the fact that its Model S won plaudits as almost everyone’s Car of the Year in 2012, Autoblog Green is reporting that at least one analyst (MarketWatch tech investor John Shinal) says the company is dangerously low on cash:

Shinal said the Tesla’s financials were worse off than struggling post-IPO internet companies Zygna and Groupon. "As of September 30, Tesla had cash and short-term securities of $86 million, down from $280 million at the start of the year," he stated. "That leaves Tesla with less than six months’ worth of cash, given that it burned through almost $200 million during the first nine months of 2012."

Tesla itself had "no comment" about all this when AutoblogGreen contacted it. The company is in the midst of big plans to install fast electric chargers along the east and west coasts and to launch a new Vehicle, the Model X. Will these plans come to fruition?

Add New Comment

4 Comments

  • Zzzz

     And after that Tesla raised $220 million from secondary offering. And then they became cash flow positive. Add cherry on top - they were building and investing into plant before it started production. Now plant is ready and producing cars at high rate...

  • atthewall

    We have to deploy the charging infrastructure or people will not buy the cars! That is what the government should do.  Nobody would drive ICE cars if there were no gas stations, or if they were only at home and at dealerships and it took 4-8 hours to fill them up. Carbon tax cars and build the charging stations at office buildings, theaters, grocery stores, restaurants and parking garages.   

  • Neil

    To recapitulate, the author is lame.  He is probably trolling to get clicks for money, which I am contributing to by posting here. 

  • Cashel

    The Shinal analysis was lame - it was from September, before Tesla started selling cars in volume. Repeating that dated, lame analysis is even more lame :)  .