Musk: Tesla was “bleeding money like crazy”

Bakersfield, CA - December 18, 2017: Tesla Super Charging station on Stockdale Hwy and the 5 fwy. Tesla Supercharger stations allow Tesla cars to be fast-charged at the network within an hour.

In an interview with Axios on HBO, Elon Musk shared plans to travel to Mars and his concerns over Tesla.

The chief executive admitted that the electric car manufacturer had come “within single-digit” weeks of collapsing as the group was “bleeding money like crazy”. 

“Tesla really faced a severe threat of death due to the Model 3 production ramp,” he said.

“Essentially, the company was bleeding money like crazy, and if we didn’t solve these problems in a very short period of time, we would die. And it was extremely difficult to solve them.”

In an honest interview, Musk described the toll his hard work had on his personal life and health.

“It hurts my brain and my heart. It hurts. It is not recommended for anyone. I just did it because if I didn’t do it… there was a good chance Tesla would die.”

In a change of subject, the Tesla chief executive shared plans to move to Mars on one of the group’s rockets.

“Your probability of dying on Mars is much higher than on Earth. It’s gonna be hard. There’s a good chance of death, going in a little can through deep space,” he said.

Musk added that an aircraft to Mars could be available could be possible in seven years time and cost passengers around $200,000.

The Tesla boss said once on the planet, he planned to “nonstop to build the base” and there would be “not much time for leisure. And even after doing all this, it’s a very harsh environment. So … there’s a good chance you die there. We think you can come back but we’re not sure”.

Shares in Tesla (NASDAQ: TSLA) are trading at -3.65% at 325,83 (1255GMT).