Hours later in another tweet, Musk, however, clarified that he "meant to say" the company's annualised production rate at the end of 2019 could be around 500,000 vehicles — or a production rate of 10,000 cars per week. Total deliveries for the year are still estimated at 400,000, Musk said.
Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for year still estimated to be about 400k— Elon Musk (@elonmusk) February 20, 2019
In contrast to Musk's projection of Tesla's production at 500,000 for 2019, the company's production in 2018 stood at 254,530. In Q4 2018, Tesla produced 86,555 vehicles this past quarter, exceeding its previous record by 8 percent from last quarter.
Earlier, Musk has come under the scanner of US Securities and Exchange Commission (SEC) for his tweet about taking the company private.
Am considering taking Tesla private at $420. Funding secured— Elon Musk (@elonmusk) August 7, 2018
In some cases, Musk's tweets have have a history of moving the stock as much as 10 percent.
As part of the company's settlement with the SEC in September, Tesla was supposed to create a system for monitoring Musk's statements to the public about the company, whether on Twitter, blog posts or any other medium.
In December, however, Musk told CBS' "60 Minutes" that no one was reading his tweets before he published them.
"It comes back to, the company is still running like a start-up," Loup Ventures founder Gene Munster told CNBC's "Squawk Box" on February 20. "This is a $50-60 billion market cap company. This should not be run like a start-up."
No comments:
Post a Comment