CHICAGO, IL - JUNE 14: Engineer and tech entrepreneur Elon Musk of The Boring Company listens as Chicago Mayor Rahm Emanuel talks about constructing a high speed transit tunnel at Block 37 during a news conference on June 14, 2018 in Chicago, Illinois. Musk said he could create a 16-passenger vehicle to operate on a high-speed rail system that could get travelers to and from downtown Chicago and O'hare International Airport under twenty minutes, at speeds of over 100 miles per hour. (Photo by Joshua Lott/Getty Images)
Joshua Lott/Getty Images North America/Getty Images
CHICAGO, IL - JUNE 14: Engineer and tech entrepreneur Elon Musk of The Boring Company listens as Chicago Mayor Rahm Emanuel talks about constructing a high speed transit tunnel at Block 37 during a news conference on June 14, 2018 in Chicago, Illinois. Musk said he could create a 16-passenger vehicle to operate on a high-speed rail system that could get travelers to and from downtown Chicago and O'hare International Airport under twenty minutes, at speeds of over 100 miles per hour. (Photo by Joshua Lott/Getty Images)
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(CNN Business) —  

Tesla CEO Elon Musk said his electric car company came “within single-digit weeks” of death this year as it struggled to meet production targets for its Model 3 sedan.

Musk made the comments about Tesla’s cash crunch on “Axios on HBO” on Sunday.

Tesla (TSLA) finally managed to hit its production targets in June, and turned a profit in October for the first time since 2016.

Before those milestones, the company was facing a $1 billion debt obligation without much revenue to help pay it down.

Musk said the production issues left Tesla “bleeding money like crazy.” He added that the luxury electric car maker might have collapsed had the issues not been resolved quickly.

At the time, Tesla denied that it was in financial trouble and promised that it would be profitable by the end of the year.

The CEO essentially moved into Tesla’s Fremont, California, plant to smooth over production while the company struggled to meet orders.

“I just did it because if I didn’t do it, then [there was a] good chance Tesla would die,” Musk said.