Tesla nearly went bankrupt on Christmas Eve 2008, Indian engineer reveals



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Tesla is currently one of the most valuable companies in the world. Investors are closely following the actions of the American electric vehicle major. However, the situation was not at all close to that in 2008.

Yes, on Christmas Eve 2008 the automaker was nearly bankrupt.

(Also read: Christmas show: this Tesla Model X plays the role of DJ for these dancing kids)

When Pune-based Indian engineer Pranay Pathole wrote on Twitter about it, Tesla CEO Elon Musk was quick to respond about the experience. The 23-year-old Indian engineer wrote on Twitter that by Christmas Eve 2008, Tesla’s funding round had ended, with the automaker literally days away from bankruptcy.

“Elon Musk had to put in all his money and assets. He had to borrow money from friends to pay the rent. 2008 has been such a difficult year, thank you for never donating, “Pathole wrote in her tweet.

Responding to his tweet, Tesla CEO Elon Musk responded by saying it was a crazy and difficult year. “Tesla financing closed at 6:00 p.m. on Christmas Eve – last hour of… last day possible. “

This is not the first time that Tesla has gone bankrupt. Moreover, this is not the first time that Tesla’s CEO has spoken openly about the bankruptcy his electric vehicle company is facing. Earlier last year, Musk tweeted that while struggling to bring its best-selling electric car, the Tesla Model 3 compact sedan, to market, the automaker was within a month of filing for bankruptcy. He said the development phase of the Tesla Model 3 sedan has been extremely stressful and painful for a long time, from 2017 to mid-2019. He also said it was production and logistics hell for the automaker.

The electric car maker was in a serious cash crunch as losses mounted and struggled to meet multiple production targets for the Model 3 sedan, which established itself as the brand’s best-selling model .


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