US version Jia Yueting: Liabilities 60 Billion to build cars, burn 50 million RMB every day

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US version Jia Yueting: Liabilities 60 Billion to build cars, burn 50 million RMB every day

2018-05-04 20:25:44 71 ℃

Tesla announced its financial results for the first quarter of fiscal year 2018. Although income has increased, the quarterly loss of 785 million US dollars has already reached a record. Looking back at Tesla's 15-year history, losses seem to be another synonym for Tesla. In the past five consecutive quarters, Tesla’s cash flow has continued to be negative. According to Bloomberg statistics this week, Tesla burns an average of 6,500 US dollars per minute (about 41,000 yuan). In terms of debt, Tesla's debt figures so far have reached 10 billion U.S. dollars (approximately RMB 63 billion), of which 1.2 billion will expire in the coming year.

On April 1st of April this year, Musk, who has the nickname of "reality version of Iron Man," sent a tweet: "Tesla is completely bankrupt, bankrupt to a point you can't imagine. "In this self-deprecating way, he hit back and forth against all circles to question Tesla's operating conditions.

In an earlier interview with the media, Musk admits that for some self-righteous technologies he is too confident, he said He overestimated the ability of the machine to automate production. He believed that the human labor force still had advantages in many cases. In fact, Model 3's capacity became the key to Tesla's financial status. The Model 3 sedan has been in production since July 2017, but issues such as batteries and overly automated production have prevented Model 3 from delivering to consumers on time. The tight cash flow, limited capacity of Model 3, frequent quality issues, and management shocks have caused Tesla to lose its Wall Street stance. This has become a short-selling target in the eyes of investment institutions.

CNBC reported that in order to increase the production of Model 3, Tesla will continue to invest cash in the production of Model 3 in Fremont, California, and Super Battery Plant No. 1. In addition, according to internal mail sent to employees by Musk, the Fremont plant will be operating around the clock, and increased employee, shifts, and paying employees more overtime pay will increase the cost of Tesla. At present, the company has nearly 40,000 employees.

In fact, Tesla’s market capitalization is twice that of Ford, and Ford’s profit was $7.6 billion last year.Six million cars were produced, and Tesla produced 100,000 cars at a loss of two billion U.S. dollars.

I have to say that Tesla has achieved some gains after 15 years of development. One of its greatest strengths is its ability to receive support through the patience and goodwill of our customers and loyal supporters. As of 2017 At the end of the year, Tesla raised a $854 million customer deposit. Tesla never had to worry about his sales, and Musk also had a group of loyal fans. According to its official data, Model 3 has more than 450,000 orders. However, in order to achieve profitability this year, Tesla must increase the production capacity of Model 3 at the fastest speed, which is also the key that Musk believes to solve Tesla's profitability problem.

John Thompson, a well-known hedge fund manager in the United States, believes that Tesla is on the verge of bankruptcy within the next 18 months It will need to raise about 8 billion U.S. dollars to make up for operating losses, capital expenditures, due debts, and working capital requirements. Without the support of Wall Street banks or private investors, the company may go bankrupt within the next 3 to 6 months.

Tesla CEO Elon Musk told investors in the conference call that the company will turn a profit in 2018 and hopes to open a comprehensive and stable operating income in 2018, while Musk It also maintained its previously established goal of producing 1 million Model 3 by 2020 and hopes to invest additional investment in the Model Y SUV model by the end of 2018.