Profit from 2017‘s first quarter was less than persuasive, as minus USD 1.33 per share (before extraordinary items/losses) was a much higher fall than the, on average, USD 0.81 in loss analysts had expected. First-quarter net loss added up to around USD 330 million. That revenue grew strongly by 69 per cent (compared to the same quarter last year) to USD 2.7 billion is a positive.
The persuasiveness of Tesla head Elon Musk resulted in more than 90 percent of Tesla and SolarCity shareholders following his recommendation and approving the takeover of the latter. Now, Tesla will expand its electric car portfolio by offering solar roofs. The impact of the merger on Tesla’s financials will show as early as the fourth quarter of 2016, when SolarCity’s results are added to the corporation’s balance sheet. The most important factor is the around USD 3 billion in debt.
Tesla CEO Elon Musk was as eloquent as ever when he raised the targets for the company’s electric car models: Instead of producing 500,000 electric cars (total figure, all models – i.e., Model S, Model X and Model 3) in 2020, the company should already achieve that number in 2018 and increase it to one million in 2020. One can question whether these targets will become reality, as they require even more large infusions of cash, making additional capital increases inevitable. And this although Tesla has just recently sought more money