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Tesla flags promise of profit as new Model 3 sedan production steadies

Tesla plans to pay off its upcoming debt - some $1.8 billion comes due before November 2019 - through internally generated cash flow

Reuters  |  San Francisco 

Tesla said it would produce its new Model 3 sedan at a profit after several recent weeks in which output stabilized, buoying hopes that the electric vehicle maker led by Elon Musk will stanch its financial losses in the second half of the year. Chief Executive Musk is under intense pressure to prove he can deliver consistent production numbers for the sedan, Tesla's lowest-priced model and the key to its plans to become a mass-market automaker, after a host of manufacturing challenges and concerns it was running through cash too quickly. Despite Tesla reporting a record loss ...

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First Published: Thu, August 02 2018. 07:17 IST
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