Elon Musk Reportedly Confirms Tesla Would Be out of Money in 10 Months
In a hard-hitting email to employees.
Elon Musk has reportedly told
“This is a lot of money, but actually only gives us about 10 months at the Q1 burn rate to achieve breakeven!” writes Musk. “This is hardcore, but it is the only way for Tesla to become financially sustainable and succeed in our goal of helping make the world environmentally sustainable.”
The “hardcore” expense cut will be decided by Musk and newly appointed Chief Financial Officer Zach Kirkhorn, who together will review “all expenses of any kind anywhere in the [world], including parts, salary, travel expenses, rent, literally every payment that leaves our bank account.” This news adds onto what has already been a turbulent year for Tesla, causing its stock price to plummet over the past six months.
