Tesla releases semi prices amid a cash-poor situation

PALO ALTO, CA - In the time it'll take you to read this article, Tesla will have burned through more than US$24,000. The electric vehicle manufacturer released price points for its first three fully-electric Class 8 truck models, due to hit the streets in 2019, but industry watchers are also expressing concern over the manufacturer's spending speed and lack of liquidity. Bloomberg reported last week that the company is spending US$8,000 a minute, or nearly a half-million dollars an hour. At that spending rate Tesla will run out of cash in the early morning hours (eastern standard time) of Aug. 6, 2018, according to Bloomberg's math.