Currently, not even the parties involved can guarantee a successful revival of the plant which hurt so many when it closed. According to a worrying Tesla SEC filing, cited by just-auto.com, not only is the deal with Toyota hanging by a thread, but so is Tesla's future as a whole.
"There are no assurances we will be able to enter into any agreements, including any purchase orders, with Toyota for such joint development projects on terms favorable to us, if at all."
The filing reveals that Tesla had a net loss of $290 million since it was created in 2003, spent $230 million and had a revenue of only $147 million. At the end of March this year, Tesla only had $61 million in its accounts. Not even the projected launch of the Model S doesn't make things look much more brighter for the company.
"We expect that the proceeds of this offering, the concurrent private placement and the Department of Energy loan facility, together with our anticipated cash from operating activities and cash on hand, will be sufficient to fund our operations for the next 24 months," the document, submitted with SEC as part of an initial public offering (IPO) expected later this year, reads.
"Even if we are able to successfully develop the Model S, there can be no assurance that it will be commercially successful. If we are to ever achieve profitability it will be dependent upon the successful development and successful commercial introduction and acceptance of automobiles such as the Model S, which may not occur."
Toyota said when the joint NUMMI announcement was made it will invest $50 million in Tesla, but, according to the filing, only if Tesla goes public by the end of the year.
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