Tesla Motors is reportedly on a cash-burning spree this year, with the company having to scale back its expected deliveries for the remaining of the year.
The report comes from Reuters and basically says that Tesla is losing $4000 on every Model S they sell, after taking into consideration the operating losses of the company which were about $47million.
Tesla had to cut its production targets for the 2015 year down to 50,000-55,000 vehicles and prepares at the same time for the commercial debut of the Model X electric crossover which is expected to be launched next month.
Shares of the electric car company fell almost 9 per cent last Thursday with another 2 per cent slip on Friday. Analysts predict that a capital raise is probably on its way as Tesla’s reserves were standing at just $1.15billion on June 30, down from $2.67billion a year ago, a reduction that’s partly due to investments for the production start of the Model X.
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