/ Industry, News, Tesla / Tesla reportedly needing more loans to survive in 2013

Tesla reportedly needing more loans to survive in 2013

Linked In Share
Tesla reportedly needing more loans to survive in 2013

Tesla Motors will be in a very difficult situation next year without loans from the U.S. Department of Energy, MarketWatch reports.

Without the hundreds of millions of dollars received by Tesla from the federal government this year, the electric-car maker’s finances would be „gasping for air as 2012 winds down”.

The report’s author, John Shinal, believes Tesla Motors, valued at $4 billion, will rank among the top candidates in Silicon Valley for a 2013 stock collapse if it doesn’t receive significantly more cash next year. Tesla’s finances are in even worse shape that those of Zynga and Groupon, says the report.

On September 30, Tesla had cash and short-term securities of $86 million, down from $280 million at the start of the year. This means Tesla has less than six months’ worth of cash, given that it burned through almost $200 million during the first nine months of 2012.

The company’s current assets were worth $285 million at the end of the third quarter, including $159 million in automobiles and smaller items such as accounts receivable and restricted cash. That is down 24 percent from $373 million at the start of 2012. Factories and other longer-term assets included, Tesla Motors held $809 million in assets at the end of the third quarter.

At the same time, it had liabilities of $837 million. „In other words, even with government help, Tesla’s balance sheet is in the red,” concludes MarketWatch.

by Dan Mihalascu (my Google+) - Friday, December 28th, 2012 - filed under Industry, News, Tesla. Image credit: .
Linked In Share
Related Articles
electric cars electric vehicles elon musk evs Federal government finance financial assets government loans marketwatch silicon valley Tesla tesla motors Third Quarter U.S. Department of Energy


Discuss: Tesla reportedly needing more loans to survive in 2013

3 Responses to “Tesla reportedly needing more loans to survive in 2013”

  1. one2mark says:

    This story is bogus. He/Shinal used old figures, failed to acknowledge that Tesla was just starting production of the Model S and they are now making 400 cars/week and they will deliver over 3000 cars by December 31st 2012 @at over 100k/car. Tesla said all along that 80% of its revenue would come in the 4th Quarter as per their production ramp up and deliveries. Shinal is NOT a good analyst and shame on you for reprinting the same garbage! I have Vin 1815 btw, and the car is simply Amazing! I know what I am talking about.

  2. Timothy says:

    Tesla's got a brilliant business plan. It's great to know that Washington is anxious to invest tax payer monies in this Government Equity Deal. A sucker is born every…

  3. JackB says:

    If Tesla sticks to its original plan of only building 20,000 model S's in 2013, they shouldn't need any additional cash. However, consider that they are starting out the year with over 20,000 reservations backed by $5000 deposits. Their entire planned production for 2013 is already booked and they continue to get additional reservations at a rate higher than 20,000 units a year. Their plans of getting customer wait times from reservation to delivery down to 3 months or less is in tatters. They don't need another loan, they need another stock offering for capital expenditures to build new production lines in the Fremont Factory. While difficult, huge demand is not exactly a bad problem to have.

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Porsche 911 S Martini Racing Edition unveiled
Porsche 911 S Martini Racing Edition unveiledPorsche has introduced the 911 S Martini Racing Edition which is celebrating the company’s return to Le Mans. The brand new ...
New-gen Renault Espace caught on the road
New-gen Renault Espace caught on the roadA new generation of the Renault Espace has been recently spied while it was being tested out. Renault is currently testing out ...
Alfa Romeo 4C Spider gets spied
Alfa Romeo 4C Spider gets spiedOur spy photographers have managed to capture the production version of the Alfa Romeo 4C Spider while it was being tested ...
Chrysler Group issues two separate recalls
Chrysler Group issues two separate recallsThe Chrysler Group has announced two separate recalls which are affecting the Ram ProMaster and the Dodge Durango, Jeep Cherokee, ...
[VIDEO] Lamborghini Huracan arrives in the Netherlands
[VIDEO] Lamborghini Huracan arrives in the NetherlandsThe first unit of the Lamborghini Huracan has recently made its debut in the Netherlands as the new supercar has managed to ...
Recall Roundup: Jeep Grand Cherokee in Australia
Recall Roundup: Jeep Grand Cherokee in AustraliaJeep has issued a recall in Australia for its 2014 Grand Cherokee and Grand Cherokee SRT because of a problem with the adaptive ...
[VIDEO] 2015 Dodge Challenger SRT Hellcat revving its engine once more
[VIDEO] 2015 Dodge Challenger SRT Hellcat revving its engine once moreA new video find starring the 2015 Dodge Challenger SRT Hellcat is showing the muscle car revving its engine once more. The ...
2015 Chevrolet Corvette Z06 gets detailed
2015 Chevrolet Corvette Z06 gets detailedChevrolet has released new details on the 2015 Corvette Z06, which is the most powerful road-going car ever produced by General ...
Three New General Motors Recalls Announced
Three New General Motors Recalls AnnouncedGeneral Motors has issued another three separate recalls which is contributing to the frenzy of almost 16 million units recalled ...
Three-door BMW X6 rendered
Three-door BMW X6 renderedThe new generation of the BMW X6 has been rendered in yet another body style, which is cutting down its two rear doors, making it ...
No GT 86 Hybrid, Toyota says
No GT 86 Hybrid, Toyota saysToyota will not be producing a hybrid version of the GT 86 sports car as there isn’t a market for such a model. The GT 86 ...
South Korean Spirra Electric Sports Car going to Europe, will cost EUR200k
South Korean Spirra Electric Sports Car going to Europe, will cost EUR200kThe South Korean company called Oullim Motors will be introducing an electric version of the Spirra on the Old Continent, where ...
Lotus Exige LF1 Limited Edition announced
Lotus Exige LF1 Limited Edition announcedThe new Lotus Exige LF1 has been announced for production as the model will become available in a limited edition in all markets, ...
Alfa Romeo MiTo and Giulietta Quadrifoglio Verde going to Goodwood
Alfa Romeo MiTo and Giulietta Quadrifoglio Verde going to GoodwoodAlfa Romeo will be officially presenting the MiTo and the Giulietta Quadrifoglio Verde at this month’s Goodwood Festival of ...
[Video] Popular web series featuring Seinfeld reaches fourth season
[Video] Popular web series featuring Seinfeld reaches fourth seasonIf you still mourn the end of the popular comedy show “Seinfeld”, you should know the popular comedian is still bringing joy ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

porsche 911 s martini racing edition 1
Spy-Shots of Cars
Spy-Shots of Cars
Lotus Exige LF1 Limited Edition 1
Alfa Romeo MiTo and Giulietta Quadrifoglio Verde 1
BMW Individual 6-Series Gran Coupe Bang & Olufsen Edition 1
MINI Cooper SD 1
FPV GT F Limited Edition 1
audi rs1 sportback render 1
2015 subaru outback 1
ferrari laferrari silver 1
Abarth 695 Biposto gumball 3000 2014 1

More automotive from inautonews
Porsche has introduced the 911 S Martini Racing Edition which is celebrating the company’s return to Le Mans. The brand new Porsche 911 S Martini Racing Edition has been designed to celebrate the company’s return to Le Mans, after 16 years. The sports car can be ordered with a white or black ...
read more
Inautonews Editors Section
Car investment – which are the next classics?
Car investment – which are the next classics?Some prefer the stock exchange, others buy gold and some invest in properties, but there is a small group of people who prefer to try their luck with ...
Where brand new cars go to die
Where brand new cars go to dieHundreds of millions of brand new cars are left to rust in huge parking lots all over the globe after no one wants to buy them. The 2014 world ...
Trendy cars for this summer
Trendy cars for this summerSummer is just around the corner and the inautonews.com team is presenting you with some of the hottest convertibles money can buy these ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Chrysler Group issues two separate recallsThe Chrysler Group has announced two separate recalls which are affecting the Ram ProMaster and the ... Three New General Motors Recalls AnnouncedGeneral Motors has issued another three separate recalls which is contributing to the frenzy of ...
Safety Section