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25 07 2019 01

In the second financial quarter of 2019, Tesla has produced 87,048 cars and delivered 95,356, surpassing all previous quarterly figures and enabling a similarly record-breaking cash flow. CTO, JB Straubel is stepping down after 15 years with the company.

Despite fears recently that the Californian company may miss its targets, it seems Tesla has overcome its global logistics and delivery challenges to register exponential growth and record production and delivery numbers.

However, Tesla has experienced below-expectation earnings with a loss of $1.12 per share (Non-GAAP), while revenue came out much as expected with the company making $6,349 billion in revenue. On the even more superlative side, the Californian company says that the free cash flow of $614 million generated is the highest in the history of the company, which, including Tesla’s public offering of equity and convertible bonds, amounts to $5 billion in cash and cash equivalents. This enables Tesla quite a comfortable position as they prepare to launch Model 3 production in China and Model Y production in the US.

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