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# Elon Musk’s Unconventional Strategy for Tesla

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## Video: Elon Musk’s Unconventional Strategy for Tesla

[Watch (HLS stream): Elon Musk’s Unconventional Strategy for Tesla](https://cdn.jwplayer.com/manifests/KgM6VDgI.m3u8) (3:09)

![Elon Musk’s Unconventional Strategy for Tesla](https://cdn.jwplayer.com/v2/media/KgM6VDgI/poster.jpg?width=720)

_Published 2018-05-30. Tesla CEO bets all on its Model 3 car to move its finances out of the red._


---

Jul 28, 2023 12:02 AM UTC

---

## More From This Series

[All Videos](https://time.com/video/)

[Elon Musk Just Said When the Cheaper Tesla Model 3 Is Coming](/video/SinL9pPp/)

### Elon Musk Just Said When the Cheaper Tesla Model 3 Is Coming

[Watch: Elon Musk Introduce the New Tesla](/video/4fmG3mnE/)

### Watch: Elon Musk Introduce the New Tesla

[Tesla CEO Elon Musk Creating A Buzz Before Big Reveal](/video/uZMH8kLu/)

### Tesla CEO Elon Musk Creating A Buzz Before Big Reveal

---


## Transcript

[ MUSIC ] [ BLANK_AUDIO ] Will Elon Musk's plan for Tesla work? Tesla is behind the biggest revolution the car industry has seen in over a century. Proving to the world that a battery powered car could be sexy. But the company that's slated to bring the electric car to the masses might not have enough cash to make it through the calendar year. According to Bloomberg, Tesla burns through more than $ 7, 430. 00 every minute. Tesla's free cash flow, the amount of money a company has after capital expenses has been negative for six quarters straight. And has surpassed $ 1 billion according to their May earnings report.

Now Tesla's spending level isn't unusual for a car company. But it is unusual for a car maker that has only sold 440, 494 vehicles in the first quarter of 2018. bringing in 3. 4 billion dollars in revenue and 784. 6 million in losses. and there's only so long a company can lose more than it's generating. but Musk is betting it will not need to raise additional capital because it will be able to ramp up the production pace For the Model 3 sedan. Tesla makes three cars, the Model S and Model 3 sedans and the Model X SUV at one auto assembly plant in Fremont, California. Musk also has aggressive plans to add an electric semi truck, a roadster sports car and a Model Y crossover to production in the next few years But the company's future is riding on the success of its Model 3 which is Tesla's first mass market vehicle, with over $ 10 billion in preorders in 2016, the car is poised to be the most successful electric car to date.

With a base price of $ 35, 000 but it can reach 70, 000 depending on the additional selected features. So for the model three has created numerous challenges for the company. The biggest being slower and costlier production than anticipated. The car also hit a road block last week when Consumer Reports didn't award the electric car a recommendation due to some issues such as poor braking performance from 60 miles per hour. But almost immediately, Tesla CEO, Elon Musk, responded with a tweet stating, looks like this can be fixed with a firmware update. We'll be rolling that out in a few days. With further refinement, we can improve braking distance beyond initial specs.

Tesla won't stop until Model 3 has better braking than any remotely comparable car. And while, in April, Tesla fell short of its goal to make 2, 500 Model 3s per week, it is ramping up to hit its 5, 000 cars per week goal by the end of June, to increase company revenues and move its finances out of the red. From ambitious production schedules to aggressive spending, it's clear that Tesla and Elon Musk aren't playing by the same rules as the conventional auto industry. [ MUSIC ]

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