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Published on 7 Apr 2018
Another day, another Tesla Inc. promise that won't be kept.
The electric carmaker said last week that it will not require an equity
or debt raise this year. But given its track record, this is likely
another empty promise. Tesla has fallen short time and again, habitually
missing production and launch goals since its inception. And aside from
Tesla's history of shortcomings, the financial picture is bleak.
Tesla is dumb to think it can get away without raising capital this
year. Margins are under pressure and a debt crunch is imminent. It's
time for chief executive Elon Musk to step back and recognize that if
Tesla can't deliver on basic financials, it will have to implement a
backup plan to stay in the good graces of investors.
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