Electrek reports that Elon Musk sent a letter to company employees urging them to exercise utmost caution regarding spending. The entrepreneur advises double-checking all financial transactions, from purchasing components and payroll calculations to travel expense reimbursements. The message also notes that the company's cash reserves are estimated at $2.2 billion, and at the current spending rate, these reserves will last about ten months.
The topic of Tesla's possible collapse has been raised in the press more than once. Back in 2017, Bloomberg analysts calculated that the automaker was spending money at a rate of eight thousand dollars per minute. If that pace had continued, the company would have exhausted all its cash reserves by August 6, 2018.
A year earlier, in 2018, former General Motors vice chairman Bob Lutz on CNBC described Tesla as "a company heading to the graveyard" and predicted its imminent collapse.
