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Tesla's U-turn puts it back at square one on cash

Updated : August 28, 2018 12:33 PM IST

Elon Musk's take-private plans for Tesla Inc have evaporated, but the company's looming debt needs remain.
Tesla Chief Executive Musk said late on Friday he would heed shareholder concerns and no longer pursue a $72 billion take-private deal, abandoning an idea that stunned investors and may draw regulatory scrutiny.
None of that has done anything to help it with a looming issue: cash.
Tesla's U-turn puts it back at square one on cash
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