Elon Musk said last week that Tesla is designing a new sports car that could go from zero to 60 mph in 1.9 seconds. Not bad, but here’s a speed number that investors might want to focus on instead: Over the past 12 months, the electric-car maker has been burning money at a clip of about $8,000 a minute (or $480,000 an hour). At this pace, the company is on track to exhaust its current cash pile on Monday, August 6. (At 2:17 am New York time, if you really want to be precise.) To be fair, few Tesla watchers expect the cash burn to continue at quite such a breakneck pace, and the company ...
Tesla's burning through nearly half a million dollars every hour
The Founders Series Roadster will cost buyers a $250,000 down payment even though it's not coming for more than two years
Bloomberg Last Updated at November 23, 2017 02:36 IST