Tesla-as-a-tech-company has always been a big part of the company's story, but there's one way that Tesla doesn't want to be like a tech company. This came to head when the electric car maker reported second-quarter earnings on Wednesday.

Tesla doesn't want to raise money by selling shares.

There's a mounting sense among analysts that Tesla will have to do an equity raise, given the rate at which it's burning through cash. This from the company's Q2 investor letter:

Cash and cash equivalents were $1.15 billion at the end of the quarter, down $359 million sequentially, as capital expenditures were $405 million in the quarter. 

Capital expenditures were primarily for the capacity expansion and tooling associated with Model X and all-wheel drive vehicles, as well as for the construction of the Gigafactory.