Tesla turns profit, Musk states no new capital required for Model 3

Tesla Motors has reported its first quarterly net profits in over 3 years, buoyed by almost $139 million in sales of tidy car credits, and CEO Elon Musk stated the automaker might make a profit once again in the 4th quarter.

The electrical automaker likewise indicated it has significantly lowered the expenses for introducing production of its high volume Model 3 sedan next year. Musk informed experts the business’s existing strategy “does not need any capital raise for the Model 3 at all.”

The billionaire stated Tesla might still raise capital to “represent unpredictability … and de-risk business”.