News

Elon Musk Stated That Tesla Was Close To Bankruptcy

As a company that focuses on business, profits and losses could be something that is not certain. Not so long ago, Tesla company also has announced that it might be close to bankruptcy. Tesla is one of the most valuable and also the most profitable automakers in the world. Everybody would definitely know about this company.

Elon Musk, the CEO of Tesla company recently tweeted this week that the particular company was within a month of filing for bankruptcy. This happen when the company was struggling to bring its best-selling vehicle that is the new Model 3 Sedan to the market.

According to a report, Tesla was in a really serious cash crunch as the company’s losses mounted and it also struggled to hit various production targets for the Model 3. But Musk hadn’t previously disclosed the company was close to filing for bankruptcy even though he did make a joke about a bankruptcy filing in a separate tweet on April Fool’s Day in the year 2018.

Fortunately, Tesla’s struggles seem to be ancient history. Tesla has recently reported record, sustained profits, an industry-leading profit margin, and strong cash flows. And the stock has responded in kind, with shares of Tesla soaring more than 400% this year.

Sources: Twitter Elon Musk

Adib Mohd

Recent Posts

Your September–October Watchlist: Food, Drama & Frights

Mark your calendars, TV junkies. September & October are serving drama, food wars, and spooky… Read More

23 hours ago

Pandora Talisman Drops, Ancient Coin Energy Meets Modern Vibes

Pandora is flipping the script this autumn with the launch of Pandora Talisman, a jewellery… Read More

1 day ago

LADA Unveils ‘Langkawi Special Deals’ with MAG Partnership to Supercharge Island Tourism

The Langkawi Development Authority (LADA) has launched “Langkawi Special Deals”, a strategic tourism campaign featuring… Read More

1 day ago

Maxim Rolls Out Partner-Driver Legalization Program to Elevate Compliance and Road Safety

Maxim, one of Malaysia’s leading e-hailing platforms, has officially introduced a Partner-Driver Legalization Program designed… Read More

1 day ago

Sabah Crowned Malaysia’s Favourite Destination, A Paradise of Peaks, Seas, and Culture Awaits!

Sabah, located in the north-eastern part of Borneo, has officially earned the title of Malaysia’s… Read More

1 day ago

Coca‑Cola Brings Back ‘Share a Coke’ Now With a Proudly Malaysian Twist

This Merdeka, Coca‑Cola is turning up the nostalgia and the local flavour. The iconic ‘Share… Read More

2 days ago

This website uses cookies.