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9 novembre 2016

Tesla turns profit, Musk says no new capital needed for Model 3

Credit photo:Reuters/Stephen Lam/File Photo

(Reuters) - Tesla Motors Inc (TSLA.O) reported its first quarterly net profit in more than three years on Wednesday, buoyed by nearly $139 million in sales of clean car credits, and Chief Executive Elon Musk said the company could turn a profit again in the fourth quarter.

The electric carmaker also signaled it has substantially reduced the costs for launching production of its high volume Model 3 sedan next year. Musk told analysts the company's current plan "does not require any capital raise for the Model 3 at all."

The tech billionaire said Tesla could still raise capital to "account for uncertainty ... and de-risk the business," however.

The third quarter profit and a leaner capital spending plan could help grease the wheels for Musk if he does seek to tap the markets for cash. Turning a profit, even for one quarter, should help counter skeptics who have questioned his ambitious plans for combining Tesla and solar panel maker SolarCity (SCTY.O) into a company offering roof-to-garage no-carbon energy systems.

Musk has made promises to investors before related to the timing of product launches, production and profitability, only to walk them back.

Read more: http://mobile.reuters.com/article

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WATTSTORAGE is a groupement of high tech small and medium size companies support by MOV'EO French mobility Cluster to respond to the increasing need of Automotive Electric Hybrid. WATTSTORAGE intervenes in innovative projects, in new vehicle projects and for the optimization of existing vehicles.  It can propose one turnkey solution of Battery pack which goes towards to the realization of a demonstrator and accompany with the clients during series solutions  

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WATTSTORAGE is empowered by Mov'eo French Automotive competitiveness cluster
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