Tesla lost $700 million in the first quarter with Model 3 problems | Washington Post

Later in the article: "[Musk] said “at this point I do think there is some merit to raising capital," after dismissing the idea last year."

"The $702 million loss was higher than analysts forecast for the company, slightly less than the figure reported in the same quarter one year ago and a stark departure from two straight quarters of profits. Its $3.7 billion in automotive revenue was $1 billion more than the year-ago figure, on the heels of the release of Tesla’s Model 3, but down 41 percent from what Tesla reported in the fourth quarter. Overall revenue, which includes energy products, was $4.5 billion.

For the first couple of years after Tesla began making its Model 3, the car that is supposed to bring electric vehicles to the masses, it faced production problems that hampered its ability to make enough cars. Now that Tesla seems to have overcome that, it is facing more difficulties delivering cars to customers, and therefore, being able to book a sale."

Tesla lost $700 million in the first quarter with Model 3 problems | Washington Post