In the past few days, we have met with local, state and federal
officials. We have followed and are continuing to follow all
legal directions and safety guidelines with respect to the
operations of our facilities, and have honored the Federal
Government’s direction to continue operating. Despite taking
all known health precautions, continued operations in certain
locations has caused challenges for our employees, their families
and our suppliers.
As such, we have decided to temporarily suspend production at
our factory in Fremont, from end of day March 23, which will allow
an orderly shutdown. Basic operations will continue in order
to support our vehicle and energy service operations and charging
infrastructure, as directed by the local, state and federal
authorities. Our factory in New York will temporarily suspend
production as well, except for those parts and supplies necessary
for service, infrastructure and critical supply chains. Operations
of our others facilities will continue, including Nevada and our
service and Supercharging network.
In many locations, we are in the process of implementing
“touchless deliveries” so customers can continue to take delivery
of their vehicle in a seamless and safe way. Due to the unique
over-the-air connectivity of our vehicles, customers are able to
unlock their new cars at a delivery parking lot via the Tesla App,
sign any remaining relevant paperwork that has been placed in their
car, and return that paperwork to an on-site drop-off location
prior to leaving. This method provides additional convenience
and comfort.
Our cash position at the end of Q4 2019 was $6.3B before our
recent $2.3B capital raise. We believe this level of liquidity is
sufficient to successfully navigate an extended period of
uncertainty. At the end of Q4 2019, we had available credit
lines worth approximately $3B including working capital lines for
all regions as well as financing for the expansion of our Shanghai
factory.
Forward-Looking Statements
Certain statements herein, including statements regarding the
extent and timing of our production and other operations, and our
liquidity, are “forward-looking statements” that are subject to
risks and uncertainties. These forward-looking statements are based
on management’s current expectations. Various important factors
could cause actual results to differ materially, including the
risks identified in our filings with the Securities and Exchange
Commission, including our Annual Report on Form 10-K for the year
ended December 31, 2019. Tesla disclaims any obligation to update
this information.
Investor Contact:
ir@tesla.com
Press Contact:
press@tesla.com
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