Tesla Inc Chief Executive Elon Musk suggested on Wednesday a capital raise could be imminent, as the electric vehicle maker lost $700 million in the first quarter and predicted a return to profit in the third.Tesla plans to resolve logistics issues with global vehicle deliveries after weathering a challenging few months, also marked by staff layoffs and a public spat between Musk and U.S. financial regulators.Shares of Tesla, which are down 22 percent this year, were about flat after the results, which came more than an hour after they were expected.Close Musk is still battling to convince investors that demand for the Model 3, the sedan hoped to propel Tesla to sustainable profit, is “insanely” high, and that it can be delivered efficiently and swiftly to customers around the world. Lower deliveries had added to worries over Tesla’s cash situation and increased speculation a capital raise was coming soon. related news China’s digital currency will kick off ‘horse race’: Central bank official Xerox considers takeover offer for PC maker HP: Report Volvo Cars to trace battery cobalt using blockchain technology On a call following results, Musk also stepped back from an earlier prediction that the company’s Shanghai factory, which is… Read full this story
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