Posted on 03/02/2019 11:47:40 AM PST by Moonman62
Tesla has paid off its $920 million convertible bond obligation in cash, sources familiar with the matter told CNBC. The company also confirmed that it made the payment today.
When asked about the payment earlier this week, a Tesla spokesperson pointed to comments from the fourth-quarter shareholder letter, when the company said it has “sufficient cash on hand to comfortably settle in cash our convertible bond that will mature in March 2019.” Tesla also said that its cash position improved by $1.45 billion in the second half of 2018, and that it expects positive net income and positive free cash flow “in every quarter beyond Q1 2019.”
(Excerpt) Read more at cnbc.com ...
So now we can eliminate all the taxpayer funded subsidies.
“Tesla’s demise has been postponed once again. “
I think you’ve been hitting your bong too hard. I live less than 20 miles from the Tesla plant, so I am often able to see the activity there. Plus, we are seeing dramatically increasing numbers of the new Model 3 on our streets. Now maybe this car isn’t your cup of tea, but it is a very good automobile, so I don’t understand why you want it to fail?
Our son just traded in his Nissan Leaf for a new Chevy Bolt. He has a solar panel system on his home, so he charges these cars with “renewable power.” He has a 25 mile round trip to work. Why would you not think that these vehicles have their place in our transportation infrastructure?
Do you ask the same of Boeing, Ford and GM?
They all receive more subsidies than Tesla.
So does Foxconn and it isn’t even an American company.
I was being sarcastic.
But I enjoyed your response anyway.
Louis Rukeyser used to use to often say that the end of the world (or words to that effect) had been postponed once again. He was very pro investment and capitalistic.
Give Moonie a break. Anyone who talks his book as much as he does needs a LOT of upside in the stock to get back near even.
The statement is nonsense since the funds were readily available and accounted for. Tesla is in no danger presently.
Uhm, Moonman62 is a huge Tesla supporter. He was being sarcastic.
Used to watch Lewis every day, what a guy!
Yes I do. No Federal subsidies for such stupidity.
“I was being sarcastic.”
Thanks for the clarification. I don’t see Musk as a Flim Flam man like the Asian Criminals who scammed us with Solyndra (which, BTW was right next door to the Tesla Plant). Just look what he’s accomplished with Space X. My wife’s family business supports Tesla’s battery factory construction up in McCarran, NV. They have already built 3 million square feet of space and the plan is for 12 million. I don’t think that that is in any way a scam. I am an inveterate IC engine person, but I am also aware of the fact that the IC engine will not be around in the future. For me, it is sad that we’ve backed away from nuclear energy because it’s the lynchpin for making cheap, clean, reliable electric power, and in so doing, makes electric ground transportation viable. And also desalinization of seawater.
And the pumping of it over the hill to make the Great Basin an inland sea again...
Yes I do. No Federal subsidies for such stupidity.
...
So your issue is really with the politicians who create the subsidies.
Did you miss the news about Tesla cutting their prices to make up for the tax credits?
“And the pumping of it over the hill to make the Great Basin an inland sea again...”
Don’t you think that that’s a bit of a stretch? The dumba$$es here in CA have allowed our population to double (unfortunately for those of us natives who are increasingly becoming the minority) without building a single water storage facility of any consequence. So desalinization, particularly for Mexico City del Norte ( aka Los Angeles) is important since a series of legal challenges are leaving LA shorter and shorter of “other people’s water.” (i.e. less from the Owens River, less from the Colorado River). I guess it’s a good thing Mexicans don’t bathe as much as the rest of us do. Water is the one thing that will be California’s undoing. We have plenty of watershed, but our “environmentalist RAT government” wants to not only not build new storage capacity, but they are under pressure to take down dams which they are told “inconvenience” some fish.
Uhm, Moonman62 is a huge Tesla supporter. He was being sarcastic.
...
Mainly I counter the preponderance of one sided negative comments about Tesla here on FR.
As far as Tesla goes, they are an American company without unions that employs a lot of people. They don’t give advertising dollars to the crooked media. They also refuse to have crooked dealerships. Why wouldn’t I want them to succeed?
“Did you miss the news about Tesla cutting their prices to make up for the tax credits?”
Did you see that for a few extra bucks, you can get a Model 3 that will go farther, accelerate quicker( the poor man’s Model 3 goes 0-60 in 5.6 seconds) and have a top speed of 162mph?
Agreed on that, it’s an American company and I want it to succeed. I wish Elon would mature too. The stock price makes no sense other than as pure speculation that Elon may hit more home runs with innovations. But it’s the company itself that matters, and there’s no predicting with any confidence in either direction on that.
There are too many variables that could change the landscape radically for or against Tesla.
No, TSLA just burned through 1/3rd of its cash on hand without the ability to raise more through new loans.
Th day has not been deferred in any way. They will be done in 2020.
The future of electric/coal energy vehicles doesn’t mean TSLA will survive.
They are running out of cash and have a couple more convertible debentures due between now and 2020. With no ability to raise more debt, they will be done.
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