Tag: model 3 sedan

Elon Musk, the well-known entrepreneur who is the CEO of Tesla has announced that his electric car company won’t be raising cash by selling stock. Along with this he also stated that the investment in the new factory to be set up in China is expectedly to be done through a local debt from the bank. Provided that Tesla is burning cash to boost up development of its Model 3 sedan, various investors raised up a query that how will the company continue to fund its operations. To this, the company responded that it is on the path of reaching profitability by improving margin and cutting costs. However, Tesla reported on Wednesday that its quarterly loss rose to $742.7 million which was earlier $401.4 million in the same period last year. In the third quarter, the founder has planned to ma...