Tesla crossed a key milestone that could save a lot of money

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But Tesla surprised investors that same month with a profitable third quarter, giving hope that the company’s production rates will improve. Musk said he now expects Tesla to be consistently profitable and cash flow positive. Before the October report, Tesla had posted a quarterly profit only twice since going public in 2010.

Tesla may choose to pay off that debt with a mixture of half cash and half stock, Bloomberg reported, citing documents. Using both cash and stock to pay off convertible debt might signal that Tesla is confident it can consistently generate cash and profits.

Tesla declined to comment to CNBC.



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