Sign up for our daily briefing

Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on the day's biggest business stories

Subscribe to Axios Closer for insights into the day’s business news and trends and why they matter

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Stay on top of the latest market trends

Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Sports news worthy of your time

Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tech news worthy of your time

Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Get the inside stories

Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Denver news?

Get a daily digest of the most important stories affecting your hometown with Axios Denver

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Des Moines news?

Get a daily digest of the most important stories affecting your hometown with Axios Des Moines

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Twin Cities news?

Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Tampa Bay news?

Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Want a daily digest of the top Charlotte news?

Get a daily digest of the most important stories affecting your hometown with Axios Charlotte

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Please enter a valid email.

Please enter a valid email.

Subscription failed
Thank you for subscribing!

Tesla CEO Elon Musk says his electric car startup was close to death over the last year — within "single-digit weeks," he told "Axios on HBO" — during the troubled ramp-up of the mass market Model 3.

Driving the news: Musk has previously said that the company nearly went bankrupt in 2008, the year he took over as CEO, and that at the time Tesla had "less than a 10% likelihood to succeed." Over the past year, he has called the Model 3 buildout "production hell," and watched as his own erratic behavior — including an ongoing scrape with federal authorities — contributed to a plunge in Tesla’s share price. 

But after months of waving away critics who described him as a slipshod manager, Musk admitted that Tesla "faced a severe threat of death."

  • "Essentially the company was bleeding money like crazy," Musk said. "And just if we didn't solve these problems in a very short period time, we would die. And it was extremely difficult to solve them."
  • During the summer, Musk called the 230-mile range, $35,000 Model 3 a "bet the company" project. 
  • Asked how close to death Tesla came, Musk replied: "I would say within single-digit weeks."

Why it matters, from Axios future editor Steve LeVine: Musk’s admission shows just how dire conditions became at a company that is synonymous with him, and that many regard as the key to a future electric car revolution.

  • Thought bubble from Axios' Felix Salmon: At worst, Tesla was single-digit weeks away from having to do a dilutive equity capital raise.

Musk said he spends about 70% of his time on Tesla — sometimes seven days a week, and sleeping in the factory.

  • "I was in the paint shop, body shop ... end of [the] line where we do final check out of vehicles," he said. "I personally redesigned the whole battery pack production line and ran it for three weeks. Pretty intense."
  • "I think what a lot of people don't understand is that I'm like the chief engineer like that. I actually do lead engineering of the rockets and lead the engineering of the vehicles and production. ... Ninety percent of my day is spent on engineering and production.

Asked what he does that no one should do, Musk answered: "No one should put this many hours into your work. This is not good. People should not work this hard."

  • "This is very painful," he said. "It hurts, it hurts my brain and my heart. It hurts. ... There were times when I was working literally 120 hours. This is not recommended for anyone."
  • "I just did it because if I didn't do it, then [there was a] good chance Tesla would die."
Subscribe to Axios AM/PM for a daily rundown of what's new and why it matters, directly from Mike Allen.
Please enter a valid email.
Please enter a valid email.
Server error. Please try a different email.
Subscribed! Look for Axios AM and PM in your inbox tomorrow or read the latest Axios AM now.

Go deeper

In photos: Twin Cities on edge after Daunte Wright shooting

Demonstrators shout "Don't shoot" at the police after curfew on April 12 as they protest the death of Daunte Wright, who was shot and killed by a police officer in Brooklyn Center, Minnesota, a day earlier. Photo: Kerem Yucel/AFP via Getty Images

There were tense scenes in the Twin Cities suburb of Brooklyn Center Monday night, after demonstrators defied a 7 p.m. curfew to protest for a second night the fatal police shooting of Daunte Wright.

The big picture: The curfew was announced following a night of protests and unrest over the killing of Wright, 20, during a traffic stop Sunday. Following peaceful protests and a daytime vigil, police again deployed tear gas during clashes with protesters Monday night, according to reporters on the scene.

In photos: Life along the U.S.-Mexico border

Children at the border of the Puerto de Anapra colonia of Ciudad Juárez, Mexico, hang on a border fence and look to Sunland Park, N.M. Photo: Russell Contreras/Axios

Axios traveled to McAllen and El Paso, Texas, and Ciudad Juárez, Mexico, to see how the communities are responding to an increase of migrants from Central America.

Of note: The region in South and West Texas are among the poorest in the nation and rarely are the regions covered in depth beyond the soundbites and press conference. Axios reporters Stef Kight and Russell Contreras walked the streets of McAllen, El Paso, Texas, and Ciudad Juárez to record images that struck them.

Updated 2 hours ago - Axios Twin Cities

Police: Officer who shot Daunte Wright accidentally pulled gun instead of Taser

The officer who fatally shot Daunte Wright, a 20-year-old Black man, outside Minneapolis Sunday appeared to have inadvertently pulled out her gun instead of a Taser, police said.

What's new: Officials on Monday night identified the officer involved in the shooting as Kim Potter, who has been with the Brooklyn Center Police Department for 26 years.