Tesla braces investors for another quarter in the red
Tesla CFO Zach Kirkhorn braced investors for another quarter in the red during the company's first quarter earnings call on Wednesday.
At the same time, Tesla's need for capital is growing. CEO Elon Musk and President of Automotive Jerome Guillen talked up its progress and plans to improve logistics, build a new battery and car plant in Shanghai, and start production of a crossover SUV, the Model Y, later this year. Guillen noted that Tesla won't begin production of its all-electric Semi until next year.
Musk replied,"I don't think raising capital should be a substitute for making the company operate more effectively." He added that he does not believe capital has been a constraint on Tesla's growth so far, before finally acknowledging there may be merit to the idea.
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