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Tesla assures Model 3 on time as Musk’s cash burn continues

Cash burn was the second most in the company’s history, behind only the final period of last year. The net losses grew 17 percent from the same quarter last year. “All eyes are on the Model 3, and reaffirming the July guidance is great.” The rollout of the Model 3 sedan will give an indication of how much the enigmatic Musk learned from mistakes made with the Model X crossover. First introduced in late 2015, the vehicle was marred by design changes, parts shortages and build problems.

Key Takeaways:

  • In the first quarter, Tesla burned through $622.4 million — about half the amount raised in equity and debt offerings earlier this year.
  • The rollout of the Model 3 sedan will give an indication of how much the enigmatic Musk learned from mistakes made with the Model X crossover.
  • We have seen a belief among some that Model 3 is the newest and more advanced generation of Model S. This is not correct.

“Cash burn was the second most in the company’s history, behind only the final period of last year. The net losses grew 17 percent from the same quarter last year.”

https://www.autonews.com/article/20170504/OEM05/170509900/tesla-assures-model-3-on-time-as-musks-cash-burn-continues