T. Rowe Price led a new funding round for the start-up, a potential competitor to Tesla that was already backed by Amazon and Ford.
Underperforming sales of electric cars took a toll on the bottom line, but the automaker reaffirmed its guidance on the year’s deliveries.
The $702 million loss exceeded expectations, but the company reaffirmed its guidance on the year’s deliveries. It said it was open to raising capital.
After a frenetic summer, Tesla reported some good results last week. But many more will have to follow.
The departure of Tesla’s senior accountant comes as the electric-car maker is entering a crucial period in which there can be no uncertainty about its financial statements.
The company, using money it raised last week in the markets, is repaying the government nine years before its loan was due.
The electric-car maker’s plans to raise approximately $830 million will help it meet its ambitious goals, but critics say the company has not demonstrated a market for its product.
Tesla Motors has stopped detailing how many reservations exist for its cars at the end of each quarter.
Tesla Motors has stopped detailing how many reservations exist for its cars at the end of each quarter.
As the interest around Tesla builds, it makes sense to look closely at its numbers – and the way it presents them.