EnergyWatch

Elon Musk: Tesla was a few weeks from collapse

Huge challenges with the production of Tesla's cheapest model, Model 3, almost cost the company its life.

Photo: /Ritzau Scanpix/AP/Evan Vucci/

Electric vehicle manufacturer Tesla was on the brink of bankruptcy, says CEO Elon Musk in an interview with HBO program Axios, reports CNBC.

Over the spring and summer Tesla was "bleeding money like crazy", while the company battled major production challenges for its Model 3 vehicle. The situation was so serious that it had "single-digit weeks" left before going under, says Musk.

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