Tuesday , May 11 2021

Tesla facing a cash crisis as 566m debt looms

GodLone Masque's electric car competitor Tesla is facing increasing cash extortion and may need to raise fresh financing as debt repayment looms, according to an analysis of its reserves diminishing.

The California-based maker last week released one of its most disappointing financial updates after years of nearly $ 1 billion (£ 770 million) in redemption.

The pressure from the debt pile of $ 10 billion is expected to grow in the coming months, with repayment starting at $ 566 million in November.

The so-called convertible conversion can be paid in shares if Tesla shares were approaching $ 760.

This weekend Tesla shares stood below $ 250, close to a two-year low, after the carmaker revealed that it lost $ 702m in the first three …

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