Tesla may be releasing a sportscar that puts most supercars to shame, but innovation clearly does not come cheap. According to a report by Bloomberg, Telsa is spending an insane amount of money — around $8,000 per minute, or half a million dollars an hour.
Even Elon Musk can’t keep a company afloat with this kind of spending, with Bloomberg estimating that the company will run out of funds by August 6, 2018 (at exactly 2:17 a.m. EST apparently) if it keeps at its current pace.
“Whether they can last another 10 months or a year, he needs money, and quickly,” Bloomberg‘s Kevin Tynan explained, saying that Tesla will have to raise at least $2 billion by mid-next year to keep afloat. Musk plans to raise some this revenue by charging $50,000 to reserve a Roaster, and $5,000 to pre-order the electric semi truck which won’t go into production until 2019, and with Walmart already signing on.
In other news, this pristine 2006 Ford GT has clocked just over 10 miles.
- Source: Bloomberg
- Main & Featured Image: Tesla