Elon Musk says Tesla was about a month away from bankruptcy at some point between 2017 and 2019, during the Model 3 ramp. The revelation came when Bloomberg anchor Jon Erlichman yesterday tweeted writing, "on this day in 2008: Tesla secured $40 million loan to avoid bankruptcy." Then, in the middle of the discussion, another user, named Zain, asked "How close was Tesla from bankruptcy when bringing the Model 3 to mass production?" To this, Musk replied: “Closest we got was about a month. The Model 3 ramp was extreme stress & pain for a long time — from mid-2017 to mid-2019. Production & logistics hell.” This is how close Tesla ever was to bankruptcy. But, so far, things seem to have shaken out in Tesla's favor. "Model 3 sales remain strong, and Model Y should help Tesla increase its production facilities' scale. But we should remember that Tesla books the majority of its profits with the sale of regulatory credits it sells to other automakers. One day, those credits likely won't be there to sell, but perhaps it's just the handicap Tesla needs to fully flourish. The automaker plans to spend up to $12 billion through 2022 to ramp up production at two new manufacturing facilities -- one in Berlin, Germany, and another in Austin, Texas," Concludes the Road Show. Do you think Tesla will come close to bankruptcy in the next five years? I don't think so. #ElonMusk #Tesla #TeslaBankruptcy This is Armen Hareyan from Torque News. Please, visit us at https://www.TorqueNews.com for daily car sector news and follow us on Twitter at https://twitter.com/torquenewsauto for daily automotive sector tweets. And if you would like to support our channel, I would really appreciate buying us animated applause once a month by clicking on the applaud button, which is next to the Like button, if you are watching this video on a desktop. Reference CNBC https://www.cnbc.com/2020/11/03/musk-tesla-was-about-a-month-from-bankruptcy-during-model-3-ramp.html Elon Musk https://twitter.com/elonmusk/status/1323640901248393217 CNET https://www.cnet.com/roadshow/news/tesla-bankruptcy-it-nearly-happened-amid-model-3-scale-up-elon-musk-reveals/