Musk Says `Hard to Be Profitable' as Tesla Fleet to Grow 60-80%

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(June 12): Tesla Inc. Chief Executive Officer Elon Musk said he expects to grow the fleet of Tesla vehicles by 60-80% this year, after doubling it last year.

“It’s hard to be profitable with that level of growth,” Musk said at the company’s annual shareholder meeting in Mountain View, California. “We could slow it down, but then that would not be good for sustainability and the cause of electric vehicles.’’

Tesla has said it expects to deliver 90,000 to 100,000 cars in the second quarter, after doing just 63,000 in the first.

Musk said he does expect the company to be cash-flow positive. - Bloomberg