Despite the obvious pressure he's under, with weekly production figures now over 2,000 and an expected three or four-fold increase in output over the next quarter, Tesla will be hoping it is now over the worst of its production problems.
Tesla's recent announcements come a month after Tesla received a downgraded credit rating from Moody's. Finally, Goldman Sachs set a $205.00 target price on shares of Tesla and gave the company a sell rating in a research report on Thursday, February 8th.
"We had this insane, complex network of conveyor belts, and it wasn't working, so we got rid of that whole thing", said Musk, wearing a black Tesla cap and safety glasses. "Anybody who walks through our doors into this factory is our responsibility, and we care about them", Laurie Shelby, Tesla's VP of environment, health and safety, told Reveal.
Mr Musk's claim about profit and cash flow hinges on a rapid rise in production of the Model 3 sedan, Tesla's latest vehicle to have experienced production delays. It also bodes well for the used market for EVs as potential buyers could be put off buying a used model due to the worry of having to replace the expensive battery before too long. Well, it's about to get buzzier, because despite missing production targets at every turn, Elon Musk is shutting down production for a week, although it's not the first time this has happened. Over the past five trading sessions it is 12.37%; 5.04% for the month; -3.27% for the last quarter; 13.75% for the past six-months; and 23.01% for the last 12 months.
"This is just going to be a very hard thing for other manufacturers to copy", Musk said during a May 2017 earnings call.
"It is unfortunate that Tesla, by its actions, did not abide by the party agreement", NTSB Chairman Robert Sumwalt said.
That prediction, like many of Musk's, is starting to look flimsy. A future the automaker has yet to reach. It alleges suppliers and Tesla executives told the CEO that the Model 3 timeline was "impossible", and Musk continued to make knowingly deceptive public statements about the original timeline. "On April Fools" Day, Musk mixed his optimism with dark humor on social media. They said that because Musk didn't like the color yellow, the factory floor did not have clearly marked pedestrian lanes, and instead had lanes painted different shades of gray. In the midst of widespread concerns Tesla might collapse, he tweeted: "We are sad to report that Tesla has gone completely and totally bankrupt". "There were all those media articles saying that Tesla's going bankrupt".
Sometimes Tesla reminds me of an overly optimistic home renovation contractor. It goes on to say that it did properly record the injuries presented to it by Reveal and that the report suggests "a lack of understanding about how injury reporting works".