Matthew DeBord, provided by Published 8:55 am CDT, Monday, June 18, 2018 Joe Skipper/Reuters In a leaked email obtained by CNBC, Tesla CEO Elon Musk said that Model 3 production has moved about 500 units per day. The troubled Tesla Model 3's run rate is now at roughly 3,500 per week. Some aspects of the system are pushing toward 700-vehicle capacity per day. The carmaker has said that it will achieve 5,000 per week by the end of June. Tesla CEO Elon Musk is excited about the manufacturing of the carmaker's troubled Model 3 — a reversal of his nearly yearlong journey through "production hell." But according to an internal email obtained by CNBC, he isn't overconfident, insisting that there's plenty of work left to do if the company is going to meet its own target of 5,000 in weekly Model 3 output by the end of June. "All parts of the Model 3 production system are now above 500 and some are almost at 700 cars already," Musk said in the email. He also said that … [Read more...] about Elon Musk says Model 3 production still needs ‘radical improvements’ to meet aggressive targets (TSLA)
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Elon Musk says Tesla’s plan to not raise more cash ‘may change’ (TSLA)
Graham Rapier, provided by Published 8:24 am CDT, Thursday, October 25, 2018 John Raoux / AP Images Tesla CEO Elon Musk has been adamant in his goal to not raise more capital. "I specifically don't want to," he said earlier this year in regards to new debt or equity rounds. His tone changed dramatically on Tesla's third-quarter conference all Wednesday, when he said the plan "may change." Tesla is set to open up nearly 10% Thursday morning. Follow the stock in real-time here. Elon Musk appeared to soften his previous tone regarding tapping fresh capital on Tesla’s third-quarter earnings conference call Wednesday evening. "We do not intend to raise equity or debt, at least that is not our intention right now," the CEO said in response to a question from Morgan Stanley analyst Adam Jonas. "That may change in the future, but the current operating plan is to pay off our debts and not to refinance them, but to pay them off and reduce the debt load and … [Read more...] about Elon Musk says Tesla’s plan to not raise more cash ‘may change’ (TSLA)
Elon Musk talked more about Tesla’s upcoming ride-sharing service with self-driving cars, which he says will ‘obviously’ rival Uber and Lyft
Elon Musk on Wednesday said that Tesla is “obviously” making moves for its own rideshare service that would compete with companies like Uber and Lyft. Musk says the service should launch by the end of 2019. It will let customers loan out their cars to users, as well as include a fleet of self-driving cars that can pick up passengers. The comments were made when Musk was sharing updates on Tesla’s third-quarter earnings, which showed a surprising profit. Elon Musk again hinted at an upcoming rideshare program Tesla is developing that would mix two hot trends in the automotive industry: ride-hailing services and self-driving cars. Tesla has mentioned plans for such a service before, and Musk said in May it would “probably” be ready to launch by the end of 2019. On a Wednesday earnings call after Tesla reported its third-quarter earnings, Musk said his company’s service would “compete directly with Uber and Lyft, obviously.” But the … [Read more...] about Elon Musk talked more about Tesla’s upcoming ride-sharing service with self-driving cars, which he says will ‘obviously’ rival Uber and Lyft
Elon Musk revealed that he’s approved the Model Y SUV prototype for production — but it’s not the upcoming Tesla vehicle he’s most excited about
Tesla CEOElon Musk said on Wednesday that he had approved the prototype of the Model Y crossover SUV to go into production. During the automaker’s third-quarter earnings call, Musk said the Model Y would begin volume production in 2020. Musk also said on Wednesday that, among Tesla‘s upcoming vehicles, he is most excited about its pickup truck. Tesla CEO Elon Musk said on Wednesday that he had approved the prototype of the Model Y crossover SUV to go into production and revealed which upcoming Tesla vehicle he is most excited about. During the automaker’s third-quarter earnings call, Musk said the Model Y would begin volume production in 2020. Reuters reported on Wednesday that Tesla will make the Model Y at its upcoming Shanghai factory, citing a Shanghai government filing. Musk said in May at Tesla’s annual shareholder meeting that the automaker will unveil the vehicle in March. The Model Y will be a crossover SUV that shares elements of the platform … [Read more...] about Elon Musk revealed that he’s approved the Model Y SUV prototype for production — but it’s not the upcoming Tesla vehicle he’s most excited about
Elon Musk says Tesla’s plan to not raise more cash ‘may change’
Elon Musk appeared to soften his previous tone regarding tapping fresh capital on Tesla’s third-quarter earnings conference call Wednesday evening. “We do not intend to raise equity or debt, at least that is not our intention right now,” the CEO said in response to a question from Morgan Stanley analyst Adam Jonas. “That may change in the future, but the current operating plan is to pay off our debts and not to refinance them, but to pay them off and reduce the debt load and overall leverage of the company.” While not a total reversal of course, it is a striking difference to his comments earlier this year, when he said “I specifically don’t want to” in regards to a cash infusion. Tesla’s free cash flow increased to $US881 million in the third quarter, with net income hitting $US312 million, it reported Wednesday. That’s despite repaying $US82.5 million worth of loans, and the company says it expects the trend to “remain … [Read more...] about Elon Musk says Tesla’s plan to not raise more cash ‘may change’