Musk: Tesla Will Be Profitable, Cash Flow Positive In Q3, Q4

The factory in Fremont California where Tesla produces its vehicles

Elon Musk is so committed to saving Tesla's Model 3 from its production hell that he has been sleeping on the floor of Tesla's Fremont, Calif., factory for the past few months because he doesn't even have time to go home and shower. Thirteen equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company's stock.

Tesla shares rose more than two percent Friday after CEO Elon Musk tweeted that the electric carmaker does not need more capital because it will turn a profit by the end of the year.

It's been a tough few weeks for Tesla, the battery-electric automaker again missing production targets, being accused of improperly firing almost 1,000 factory workers and being scolded by federal safety regulators for its role in investigating a fatal crash involving its semi-autonomous Autopilot system.

According to Vertical Group analyst Gordon Johnson, Tesla's share price, now at around US$300 apiece, could nosedive to as little at US$84 by the end of next year as a flurry of competitors crowd the EV market. Three days later, the shares had rebounded to $305.72, before again slacking off as more bad news appeared.

This week, the National Transportation Safety Board (NTSB) ended Tesla's status as an official party to the agency's investigation into a March 23 fatal crash involving a Model X vehicle, reported The Wall Street Journal. The company's future hangs on its ability to build and profitably sell enough of its new mainstream electric auto. The NTSB chafed that Tesla improperly released incomplete data without authorization.

Musk has tested some customers' and investors' patience by struggling to resolve bottlenecks causing what he's described as "production hell". And during a CBS interview this week, Musk suggested that things are moving in the right direction. "As long as you can see that you're ascending levels of hell, that's OK", he told CBS.

Elon Musk

"You started saying, 'We'll do 2,500 a week.' And now it's a little over 2,000 a week. And I think we're rapidly - Tesla's rapidly on its way out of production hell".

Tesla said in a blog post last month that Huang didn't have his hands on the wheel for six seconds before striking the barrier where lanes split on the freeway.

But not everyone is convinced. Musk shared that he believes some customers may have canceled their orders because they couldn't afford to wait for the Model 3.

Still the Jefferies analysts aren't the only ones wondering if Tesla is running out of money. There will be four more affordable, long-range EVs debuting in the US this year, he noted, with an estimated 101 on the road by 2021.

Because Tesla has historically produced its most feature-rich models first, leaving production of base models until later, the AWD "D" Model 3s will likely take priority over the smaller, lower-range battery models. Musk personally took over the production line earlier this month, which now produces slightly more than 2,000 vehicles a week.

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