Tesla just had an amazing 24 hours — both ahead of and following the unveiling of its mass-market Model 3.
However, the upstart EV automaker has not brought in as much cash as the company co-founder and CEO Elon Musk wants you to think.
On Friday morning, Musk tweeted that, based upon an average retail price of $42,000 for the Model 3, the company has effectively netted around $7.5 billion in a single day.
While Musk is a gifted entrepreneur, he has some problems with math on this one. Let’s start with the deposit.
First off, Tesla did bring in a good chunk of cash: a fully refundable $1,000 for each pre-order, which was limited to two per person. That calculates to $180 million — nothing to sneeze at. Read more…
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