Tesla’s founder, Elon Musk in a series of tweet revealed that the company was near bankruptcy,l between mid 2017 and mid 2019 while it was ramping up Model 3 production.
The two years of “hell” happened while Tesla was attempting to take the Model 3 from concept to mass production. And it turns out that wasn’t the only time Tesla nearly went bankrupt. In 2008, the company secured a $40 million loan that Musk says came in at the “last hour” when Tesla was about three days away from bankruptcy.
Closest we got was about a month. The Model 3 ramp was extreme stress & pain for a long time — from mid 2017 to mid 2019. Production & logistics hell.
— Elon Musk (@elonmusk) November 3, 2020
Though for whatever it’s worth, since both near-failures, Tesla’s stock (and Musk’s net worth) have both gone on to reach all-time highs.
