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Tesla Is Burning $6,500 Every Minute. It’s Probably Going to Need to Raise a Lot More

April 30, 2018

Via: Fortune

At the beginning of April, Tesla founder and CEO Elon Musk joked about the company going bankrupt, but it appears that such a seemingly unlikely outcome is no laughing matter. There is now a “genuine risk” that the electric car company won’t have enough money to make it out of this calendar year, Bloomberg reports.

The company spends more than $6,500 every minute and it has had negative free cash flow for five quarters, according to Bloomberg. It has also tripled its workforce between 2014 and 2017 and its revenue per employee is lower than its competitors in the auto industry.

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