Tesla CEO Elon Musk continues to say he has no plans to raise capital


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Elon Musk, chairman and chief executive officer of Tesla Motors, center, participates in the opening bell ceremony at the Nasdaq Marketsite with his twin boys Griffin, green shirt at center, and Xavier, right in blue shirt, and his fiancee (at the time) Talulah Riley, second from right, in New York, U.S., on Tuesday, June 29, 2010.

Tesla CEO Elon Musk has no intention of raising more capital, even though some on Wall Street think he should.

Asked on Wednesday if he might consider now a good time to raise more money, Musk simply said “no.”

“I specifically don’t want to,” he said, on a conference call after Tesla posted first-quarter earnings that beat expectations.

Tesla finished the quarter with about $2.7 billion in cash, down from a balance of $3.4 billion at the end of last year. But it is hard to see how they will not have to raise capital by some time early next year in order to keep funding their ambitions and providing themselves some kind of financial cushion.

Source : CNBC