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Tesla Just Solved One Huge Problem, That May Have Been The Easy Part
The incredible response to Tesla’s Model 3 is great news for the company. The company has more than doubled the 115,000 pre-orders it had received before unveiling the car last night, with CEO Elon Musk reporting more than 232,000 orders as of late Friday. For a company with just $1.2 billion on its balance sheet, $1,000 deposits on those vehicles represents nearly a quarter billion dollars — a significant boost to working capital. But that’s not the best part of what has happened for Tesla over the past two days.
Most importantly for the company, Tesla has — without spending more than a token amount on an intro event and some extra staffing in its retail stores — found buyers for what likely amounts to the first two years of production for the Model 3. And given that the car won’t ship until the end of 2017 at the earliest, it’s possible the vehicle will be sold out through sometime in 2020 before the first owner receives a set of keys.
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