Tesla was’about a month’ of bankruptcy during the Model 3 lamp period.

Tesla was'about a month' of bankruptcy during the Model 3 lamp period.

Tesla CEO Elon Musk speaks to the media when he visits the construction site of future American electric vehicle conglomerate Tesla in Gruen Heide near Berlin on September 3, 2020.

Strange Andersen | AFP | Getty images

Tesla CEO Elon Musk on Tuesday tweeted that he had about a month from bankruptcy in recent years while his electric car company was still exploring ways to mass-produce the Model 3 electric sedan.

During discussions about Tesla’s fundraising history, one follower asked, “How close was Tesla to bankruptcy when mass-producing the Model 3?”

Musk replied: “The nearest time was about a month. The Model 3 lamps were a long, extreme stress and pain from mid-2017 to mid-2019. It was a production and logistics hell.”

Musk talked about what he often calls the “production and logistics hell” of bringing new electric vehicles into mass production. However, Musk and the company did not reveal exactly how few runways were before facing possible bankruptcy.

on Early 2019 -When Tesla produced fewer than 63,000 Model 3s per quarter, Elon Musk was able to demonstrate Tesla’s autonomous driving ambition Autonomy day Currency with events and institutional investors.

At the time, Musk and other Tesla executives said in quarterly financial papers and investor calls that the company could finance business needs with existing cash flows, but the company was raising funds only in the event of a recession or weak global auto demand.

Tesla r in the third quarter5th consecutive eported Profitability diverges thanks to most regulated credit sales.

The company no longer reveals production numbers for Model 3 only. However, since it became a “production and logistics” hell with Model 3 in the United States, it opened a new factory in Shanghai that aims to produce 150,000 Model 3 units per year and increase its annual output to at least 250,000 units. , Including Model Y and Model 3.

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On Tuesday, Musk appeared to be advocating an unprecedented CEO reward package on Twitter.

One fan commented on Musk’s agreement to remain as Tesla CEO in 2018, working unpaid. Instead, if the business met certain milestones, it later built up the right to buy the company’s stock at a fixed price.

Musk, referring to his other venture, SpaceX, replied: “Yes, I didn’t think the stocks would go up so quickly. The reason for the stock option is that humanity has to pay to get to Mars. In 10 to 20 years.”

Musk has earned some value from this reward package. Over $11 billion At the same time as the coronavirus pandemic, Tesla Employee salary cuts, Seasoned worker To factory workers Come back to make tea Before the state and county thought it was safe to do so in Fremont, California.

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