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 ...
I think Tesla just got $2 billion in new loans for their new plant in China.
I don’t see why they would need new loans for the US. The big question used to be whether they could make the payment which they just made yesterday. They have cash on hand and will be profitable again after this quarter.
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?
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Yes, I saw that. There’s still a lot of temptation to spend more than the 35k base price.
There was never a question about making Fridays payment.
They had $3B cash on hand. Of which they now have $2B remaining. There are a couple more coming, so they had better reduce their burn rate, or increase their share price to be able to convert debt to shares. Make a profit and there are no questions of survivability.
Companies like Tesla are completely connected to the democrats in congress. They are connected to the progressive agenda now headed by AOC. Only now it is becoming completely clear where they are headed. Tesla would have never got off the ground if it were not for the progressives dishing out taxpayer money.
The entire concept of electric cars somehow being a positive for the environment is nothing more than an elaborate illusion. When in fact it does great harm to the environment on so many levels. And they waste far more energy not less. The same thing Goes for GM and the fact that Obama headed a once great car maker into the abyss.
Yes I have a problem with paying for that. For those so blind and gullible to fall for the electric car scheme then I say let them pay the full price for it.
“ I live less than 20 miles from the Tesla plant, so I am often able to see the activity there. ”
I live an easy drive to Washington, DC, so I am able to see the activity there, as they steal money from our bank accounts to help Tesla sell luxury cars.
Companies like Tesla are completely connected to the democrats in congress.
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If that’s true why have they successfully made the effort to keep out labor unions?
A company that “succeeds” only because of government subsidies (that means monies CONFISCATED from you and me) is not succeeding.
I don’t give a hoot about Tesla and electric cars beyond the fact that they are sold with the illusion that they are “clean”. They aren’t. People can buy what they want. Just tell the truth about the green crapolla regarding electric cars and stop giving my money to people who buy them.
Forget the cars. What happened to the small submarines and home flamethrowers?
When will Tesla be able to supply repair/spare parts (including body parts) in a timely manner? The insurers are getting VERY tired of totaling every stinking Tesla that gets in a minor accident because replacement panels take many months to be delivered.
Where is your recent evidence of that?
“but it is a very good automobile”
Uhh not according to Consumer Reports. The brand is 29 out of 31 (worst) in quality. Model 4L3 specifically not recommend. FACT
“Model 3”
Yeah, but will it sing like a 454 spinning past 7500 rpm through open Hookers? I think not!
No, you're quite right, and part of the personal magnetism of cars is their sound for me. But cue up some You Tube videos of Tesla Model S's, the four-wheel drive ones taking out all comers at the drag strip. They may be quiet, but they sure as hell are fast! As for a 454 running past 7,500 rpm, that's a neat trick if you can do it reliably. the Big Block valve train needs help to get there. A neighbor of mine has a 540 in a Lola T-163 CanAm Car. He doesn't need to turn it fast, because it makes 950Hp below that number with about the same amount of torque. Anyway, as he says, when you can spin the tires from corner to corner, horsepower isn't your problem.
I’m crazy about those old CanAm cars!
“I’m crazy about those old CanAm cars!”
The neighbor in question, has three, the other two are a McLaren M6B with a small block and a Webster. It’s fun when he gets one of them out on our rural road.
I’m crazy about those old CanAm cars!
Indeed, the limiting factor is always traction. I wasn’t knocking the Tesla’s performance. Anyone paying attention knows they will fly.
I checked Consumer Reports and they recommended two Teslas. One was the 323 I think and the other was the model S. The 323’s only knock was road noise. Truth told that surprised me. In my old age I have come to value a quite cabin.
Still, I do miss my 69 Camaro SS/RS.
What Peter did they borrow from to pay Paul?
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