High-profile electric car company Tesla Motors has a bit of a money problem, but CEO Elon Musk says he has a plan.

In an interview with Reuters on Thursday, Musk said he expects to raise more than $20 million in the next week to bolster its cash reserves and make the company cash-flow positive.

The company had been seeking to raise $100 million but failed, Musk told Reuters.

"We didn't raise the $100 million but we still need to raise some money to get to cash flow positive," Musk said. "We actually probably only need on the order of $20 million to do that. We're going to raise more than that, but we only need about $20 million."

For further information: CNET