Elon Musk Says Tesla Will be Profitable In Second Half Of This Year

Tesla Motors will become profitable, starting from the third quarter of this year and therefore will not require additional funding from its investors according to the company’s CEO Elon Musk.

Tesla has already sought to play down widespread speculations that it would need to return to capital markets this year in order to raise more money, Reuters reports.

The electric car maker has been losing production targets consistently and is also currently fighting bad publicity over a fatal crash that involves a Tesla using its Autopilot system.

Tesla has said that it would have positive cash flow from the third quarter and Musk repeated the same in a tweeted response to a story from The Economist which said that the Silicon Valley car maker will require $2.5 to $3 billion this year in additional funding.

“The Economist used to be boring, but smart with a wicked dry wit. Now it’s just boring (sigh). Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money”, Must wrote on Twitter.

The company’s shares, which had already gained nearly 10 percent since announcing the production numbers of the Model 3 on April 3, were up 1.8 percent soon after Musk’s tweet.

  • Rocket

    “The company’s shares, which had already gained nearly 10 percent since announcing the production numbers of the Model 3 on April 3, were up 1.8 percent soon after Musk’s tweet.”

    Which, of course, was the point. Unfortunately, Musky says a lot of things … Like production would meet the 5,000 units per week target by the end of 2017. How’d that work out?

    • Marty

      Unfortunately, the important thing isn’t what will actually happen, but what people think that other people think will happen. 🙂

      For us without company shares he just made it a little more exciting to watch.

  • Dr Strangefingger

    Not.

  • Howstar

    Musk says… a lot

  • Status

    Wouldn’t it better to simply surprise us all instead of promise?

    • Marty

      That wouldn’t have helped the shares.

  • Moveon Libtards
  • Oh will they now.

  • LWOAP

    I’ll believe it when I see it. And given Elon’s habit of making these claims I don’t see that happening. But, hey, anything to get those shares up right Elon?

    • Bash

      Exactly my thought.

  • Bash

    I’ll believe it when I see it.

  • jez zza

    Aleluya !

  • GT

    Q3 and Q4 2018 when fed through Musk translator = 2020 ish

2007 Mercedes R63 AMG Is A Very Fast, And Very Unpopular, Oddity

This 11-year old model looks to be in great shape despite the 129,000 miles on the clock.

One-Off Tuned Peugeot 308 GTi Has Racing-Inspired Looks, 302 PS

The French hot hatch has TCR-like styling, more power, less weight and a reworked chassis.

Volkswagen T-Cross Is Almost Ready To Enter The Subcompact SUV Fray

Volkswagen will assemble the T-Cross in Brazil and sales should start before the end of the year.

Bid On This 1985 Audi Quattro And Fulfill Your Childhood Rally Dreams

This 1985 Tornado Red Audi Quattro is said to be one of just 99 examples sold in Canada.

The Koenigsegg Regera Is A 1,500 HP Single-Gear Torque Monster

A twin-turbo V8 and no less than three electric motors are mated to a revolutionary transmission.

Army Green Wide-Body Audi RS6 Avant Is Ready For The Apocalypse

This matte green RS6 comes from South Africa and has been fitted with many custom parts.

Toyota Could Kill Off Some U.S. Models If Trump Enforces Tariffs

Depending on Trump’s decision, some might be produced locally while others could be withdrawn.

Breaking: Sergio Marchionne Out As FCA And Ferrari CEO Following Complications With Surgery

Marchionne’s condition has “worsened significantly in recent hours” .

Is $65,000 Crazy Money For A 2019 Ram 1500 Truck?

The Ram 1500 Limited is the nameplate’s flagship version, costing as much as a base-spec Porsche Cayenne.

Trade Secrets From GM, Toyota, Tesla, More Exposed After Data Breach

Anyone with an internet connection and some knowledge could access sensitive information.