Wednesday, February 20, 2019

Oh, Elon

Never tweet.

In the past 24 hours, Tesla has treated us to more of the same. Yesterday afternoon, Elon Musk tweeted that Tesla would produce 500,000 cars in 2019, which would have been a significant increase in forecast from the 400,000 deliveries mentioned by Musk on January 30th in the company’s fourth quarter shareholder letter. Musk quickly clarified that he “meant to say” Tesla would be producing at an annualized rate of 500,000 cars per year by the end of 2019, which is a huge difference, obviously amounting to 100,000 cars.

This morning, the market received the news that Tesla's general counsel, Dane Butswinkas, would be leaving the company after only two months on the job.