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  • Los Angeles Times

    Musk says Tesla will be self-funded, shunning Wall Street

    by Russ Mitchell, Los Angeles Times Aug 03, 2018 4 minutes

    SAN FRANCISCO - The most eye-popping moment in Tesla's earnings call with analysts Wednesday was not when Chief Executive Elon Musk apologized to the analysts he dissed on a previous call in May. It was not the fact that Tesla posted a $717-million loss for the quarter, or cut down on its cash burn.

    The real surprise came when Musk and his chief financial officer, Deepak Ahuja, indicated the company won't ever need to raise capital from another sale of stock, and can fund its growth mainly through internally generated cash and proceeds from Chinese debt.

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