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Tesla shares: Musk writes Brand-Mail to its employees – 17.05.19

Tesla's head, Elon Musk, wrote in e-mail that all costs should be immediately tested. Otherwise, the available cash reserves are likely to be repaid in less than a year. From Matthias Fischer

Tesla Elon Musk's boss calls his staff to put all the costs on the test with immediate effect. At least the American portal for the TheStreet stock market reported, quoting an internal mail to all Tesla employees. Then Musk and Tesla Zack Kirkhorn's new financial director decided to personally look into all future problems. Therefore, Kirkhorn must review and sign all costs pages while Musk himself will examine and sign every tenth page. In this way, Tesla's boardroom wants to achieve that the heavy losses of the electronic car manufacturer in the first quarter are significantly reduced.

Musk writes in the mail that it is "extremely important" to "examine all the small questions in Tesla." To make his claim, he seems to emphasize that such results will soon lead to Tesla's money. Although the group has $ 2.2 billion in cash (about two billion euros), "though that's a lot of money, it only gives us ten months to do this if we look at the first quarter burn rate continue to reach the break point ".

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Source: Mike Blake / Reuters

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