Tesla was within one month of bankruptcy during Model 3 production ramp

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The struggles suffered by Tesla during the Model 3 production ramp are well known, but today we learned just how close CEO Elon Musk and Tesla was to losing it all.

Tesla began limited production of its electric sedan in mid-2017, with the first vehicles rolling off the assembly line in Fremont on July 7, 2017. In a series of tweets today, Musk revealed the automaker was “about a month” away from bankruptcy as it ramped up production into mid-2019.

The revelation comes 12 years after the automaker was within 3 days of bankruptcy in 2008. According to Musk, Tesla received a $40 million loan on Christmas eve at the “last hour of [the] last day possible” after investing all of his own money into the company, and even that of his friends.

It turns out that investment was a wise one, as Tesla is now the most valuable automaker in the world, and Musk has a personal net worth of nearly $100 billion.

About Mike Flemming 783 Articles
Senior Contributor. White Long Range AWD Model 3 owner since October 2018. EV fan since 2012 with my first Nissan Leaf | Mike@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca