Tesla, Inc designs, develops, manufactures, and sells electric vehicles, and energy generation and storage systems in the United States, China, Norway, and internationally.
"We've spoken at great length about the "machine that builds the machine" and why it is so important to Tesla's long-term success", the investor letter said.
The electric-car maker is now maxed out at 2,270 Model 3s a week, short of the 2,500 CEO Elon Musk promised would be produced weekly by the end of the quarter.
Elon Musk reportedly has a net worth over $20 billion.
Another major factor that contributes to Tesla's problems is that Musk blows through money.
The chart comes from Bloomberg, but I've added annotations for the launch of Tesla's last three vehicles.
An analyst from RBC Capital Markets posed a question about reservations for the Model 3, Tesla's first mass-market vehicle that's proven wildly popular but has been plagued by production issues.
The pattern repeated itself with the Model X. Tesla's burn rate soared in 2014 and 2015, peaking right around the time of the first Model X delivery in September 2015.
"They hope to be in positive cash flow and earnings territory in the third and fourth quarters", said Clement Thibault, senior analyst with Investing.com. The company also pulled in $3.41 billion in revenue, surpassing the $3.22 billion expected by The Street.
During the quarter the company burned cash at a rate of $57 million per week. "Elon hasn't always been a man of his word, but if things keep up at this pace Tesla is on a better track to hit its Model 3 production commitment by July, which could be a blessing and a curse".
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The Oakland Raiders entered the 2018 NFL Draft with questions at the inside linebacker position but chose to wait to address it. It was a condition he and MI had been aware of since his freshman year, although it was never a detriment to him playing.
Tesla began the quarter with $3.96 billion in cash and equivalents, but that fell to $3.22 billion by quarter's end.
"But it all depends on Tesla achieving its production goal of 5,000 (Model 3) cars weekly".
Tesla's challenges have not been limited to its current production issues.
Let us know what you think April Tesla Model 3 deliveries were. Again, analysts anxious about Tesla's cash flow.
The Model Y is just one of many projects in the pipeline for Tesla, which also launched a Tesla Semi and a new Roadster in recent months. Over the last five years, Tesla has returned about 450% to shareholders, versus the S&P 500's return of 66%.
Tesla's market cap is now $50.9 billion, making it the second-most valuable US automaker behind General Motors Co.
China is the world's biggest market for electric vehicles and Tesla's second largest after the US. As long as its valuation is that high, it can easily raise an extra billion dollars by selling more shares.
Tesla Inc investors gave a rare rebuke to iconoclastic Chief Executive Elon Musk on Wednesday after he cut off analysts asking about profit potential, sending shares down 5 percent despite promises that production of the troubled Model 3 electric auto was on track.
Tesla will only face an existential threat if investors start to lose confidence in the company's long-term prospects.