The electric car manufacturing company said Wednesday it closed its $ 702 million loss in the first three months of the year. Compared to the previous quarter, sales totaled $ 3.4 billion compared to $ 4.54 billion in the previous year, down 37%.
At this time, the company is expecting that the sale of Model 3 is not beneficial and the company expects profits in the middle of the year.
Is Logic Unique in the Background?
Tesla accounts for the losses that the entrusted car at the end of the quarter and only account for the second quarter income. Half of the first quarters deliveries were made in the last ten days.
Elon Musk, the managing director of the company, has identified the most significant logistical problems identified so far in the transport problems.
Model 3 will also be produced in China
For now, it only manufactures Tesla 3 in California.
This year, Tesla expects to sell 360-400 thousand cars and if production begins in the Chinese factory in the fall, this number can reach 500,000.
Financial problems boosts Musk shoulder
Tesla, in March, paid $ 900 million in debt, with a cash loan of $ 2.2 million for $ 3.7 million in three months. At an analyst meeting, he talked openly about raising Musk capital, although he said so far that the company does not need it. The next big amount will be returned in November, and the company will pay $ 500 million.
According to US media brokers interviewed by Reuters, Tesla wants to raise $ 3 to $ 3 million in the market.