Elon Musk: excessive automation Tesla was a mistake
The unusual manner of repentance for the billionaire, CEO Tesla Elon Musk acknowledged that the company is building a robot too hard to produce. "Excessive Automation Tesla was a mistake," Musk wrote on Twitter in response to a reporter's question Wall Street Journal. "People underestimated." He added: "We had a crazy, complicated network of conveyor belts. And it did not work, so we get rid of it at all. "
Tesla faced with public pressure due to slow production of its Model 3, the most inexpensive car in the line of the company. Tesla was unable to reach the production flow of 2,500 vehicles per week, which is why investors are upset.
Yes, excessive automation at Tesla was a mistake. To be precise, my mistake. Humans are underrated. - Elon Musk (@elonmusk) April 13, 2018
The uncertainty has led to fluctuations in the value of shares. A month ago, the company's shares were trading at $ 340, but has since dropped to $ 252. All began to recover only when Musk promised that the company will enter into a plus in the third or fourth quarter.
The Economist used to be boring, but smart with a wicked dry wit. Now it's just boring (sigh). Tesla will be profitable & cash flow + in Q3 & Q4, so obv no need to raise money.
- Elon Musk (@elonmusk) April 13, 2018
Capitalization Tesla was 50, 7 billion dollars. For comparison, the capitalization of Ford Motors - $ 45 billion.