Musk Claims Tesla Was Close To Death Last Year With Less Than A 10% Chance Of Survival

Tesla CEO Elon Musk says his electric car startup was close to death over the last year — within "single-digit weeks," he told "Axios on HBO" — during the troubled ramp-up of the mass market Model 3.

Driving the news: Musk has previously said that the company nearly went bankrupt in 2008, the year he took over as CEO, and that at the time Tesla had "less than a 10% likelihood to succeed." Over the past year, he has called the Model 3 buildout "production hell," and watched as his own erratic behavior — including an ongoing scrape with federal authorities — contributed to a plunge in Tesla’s share price.

PUGPROUD - 11/26/2018 4:46:46 PM

+9 Boost

A muscatel moment for sure.

mre30 - 11/26/2018 4:50:04 PM

+10 Boost

Eagerly awaiting Tesla's 2018 earnings press release in January/Feb 2019.

Everything said by Musk/Tesla between now and then is just spin.

ricks0me - 11/26/2018 5:14:08 PM

+7 Boost

Que up the Tesla Spin Doctors
Please chime in with your defense

MDarringer - 11/26/2018 6:55:10 PM

+6 Boost

This is SanJoeSayDriver and I want to say...

This is EVisNO and I want to say...

This is Carlosasshatter and I want to say...

This is...

MDarringer - 11/26/2018 6:19:46 PM

+4 Boost

This idiot just needs to shut up.

SanJoseDriver - 12/5/2018 1:41:09 PM

+1 Boost

I thought you were commenting on yourself for a second lol

EVisNow - 11/26/2018 11:44:16 PM

-6 Boost

Yet Tesla is still here and stronger than ever.

Over in Michigan, things are not looking good for GM and Ford, are they ? How about them Germans ? Second D day will come soon for them.

EVisNow - 11/26/2018 11:51:55 PM

-3 Boost

Thanks to the $TSLA shorts who paid for my 2 Model 3s with more to come for a short at the Roadster in 2 years.

When you really believe in what you say or do, put down the money. I did and it paid.

What else can I say ? Yeah, I also enjoy blowing away the punks in their Mustangs and Camaros too. I haven't had a BMW M3 making a move on me yet - they're probably smarter and more knowledgeable about the Model 3 than the dumb muscle car lot.

MDarringer - 11/27/2018 8:56:56 AM

+1 Boost

EVisNOPE is just making up BS to appear butch. The reality is that he is probably an old man long since emasculated by his overbearing wife who is forced to drink pumpkin spice lattes and pretend he likes them just like the other girls in the group.

EVisNow - 11/27/2018 3:21:38 PM

+2 Boost

@MD: I know you have a penchant for old men / grandfathers, but I'm not your kind. I prefer young Italian women. You know any ?

TheSteve - 11/26/2018 11:52:33 PM

+9 Boost

Musk just confirmed what many analysts have been saying: That Tesla Motors are in bad shape, and investors and consumers should beware.

Meanwhile, in Teslaland, the Faithful either ignore this, or they point to it as a demonstration of Musk's genius, with the view that he can take a company from the brink of collapse and make it the raging success it is now. Of course all is well... Teslo showed a profitable quarter and Musk says happy days are here again. What could possibly go wrong?

supermoto - 11/27/2018 10:06:27 AM

0 Boost

And Tesla is still close to death. The hardest part (massive debt payments) is yet to come.

Vette71 - 11/27/2018 9:04:27 PM

+1 Boost

It was recently announced that Musk tried to do a $750M debt raise for SpaceX. He could only get $250M.