Musk says Tesla will be out of money in 10 months without ‘hardcore’ changes


This post is by Sean O'Kane from The Verge - All Posts


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Elon Musk told Tesla employees the company will run out of cash in about 10 months unless “hardcore” cost-cutting efforts are made, according to an all-staff email obtained by Reuters and Electrek. The cost-cutting measures are necessary despite the fact that Tesla just raised $2.7 billion earlier this month, Musk said in the email.

Musk and Zach Kirkhorn, who recently replaced outgoing chief financial officer Deepak Ahuja, will review “all expenses of any kind anywhere in the word, including parts, salary, travel expenses, rent, literally every payment that leaves our bank account,” according to the email.

Tesla finished the first quarter of 2019 with $2.2 billion in cash. But the company lost $702 million, and so Musk said in April…

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