Tesla Posts Surprising $700 Million Loss In Q1 Earnings Report

Posted by Irina Slav

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Tesla may soon announce a capital raise after Elon Musk suggested “There is some merit to raising capital,” adding “It’s probably about the right time,” as quoted by Reuters. The comments by Tesla’s CEO followed the release of the company’s first-quarter results yesterday.

The EV maker reported a net loss of US$702 million as well as a US$1.5-billion decline in cash and cash equivalents, to US$2.2 billion. What’s more, Model 3 production only inched up by…Click here for full article.

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