The memo says that $2 billion in fresh funding would only cover 10 months of business at the company’s first quarter burn rate.
Tesla CEO Elon Musk told employees in a company-wide email Thursday that $2 billion in new funds raised this month were only enough to get through 10 months if Tesla keeps spending as it did in the first quarter of 2019. He requested that everyone at the company take „hardcore“ measures to pull back on spending.
Musk wrote in the email to employees, which was obtained by CNBC, that he would take extreme action to control spending. He also urged employees to do the same. He said Tesla’s CFO will review and sign every expense going forward.
