Elon Musk Admits Tesla Was “Bleeding Money” and Nearly Collapsed

Tells Axios that his company nearly died in the middle of producing the Model 3.

sleeping driver
CEO Elon Musk said Tesla is looking into the case of a sleeping driver.(Justin Sullivan/Getty Images)
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Tesla founder Elon Musk revealed that his luxury car company almost stalled completely.

In a candid interview with Axios on HBO, Musk said Sunday that the car company was “bleeding money like crazy” and was “within single-digit weeks” of dying.

“Essentially, the company was bleeding money like crazy, and if we didn’t solve these problems in a very short period of time, we would die,” the chief executive said. “And it was extremely difficult to solve them.”

Musk said that he and his teams were working to their breaking points, logging 22-hour days, seven days a week.

“People should not work this hard,” he said. “It hurts my brain and my heart. “It hurts. It is not recommended for anyone. I just did it because if I didn’t do it… there was a good chance Tesla would die.”

In October, Tesla posted a quarterly profit and is expected to be positive for all quarters going forward, Fox Business reported.

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