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Tesla shares surge after CEO Musk promises positive cash flow in 2016

Published Thu, Feb 11, 2016 · 09:50 PM
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San Francisco

TESLA Motors Inc chief executive Elon Musk on Wednesday promised investors that the electric luxury car maker will start making money this year, sending the company's shares up sharply despite a wider fourth-quarter loss.

Tesla shares rose more than 10 per cent in after-hours trading after the company forecast a 60 to 80 per cent increase in vehicle sales this year and promised it would turn a profit on an adjusted basis. It will start generating positive cash flow in March.

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