Two of Tesla’s top executives leave the electric car manufacturer, a novelty which partially put a damper on the quarterly figures.
The news that two executives of Tesla’s management leaving the company came just hours before the figures for the last quarter.
both the head of production, Greg Reichow, to take time off when you find a successor. He was expected to keep the production of the new Model 3, the car that Tesla wants to reach out to the mass market and will go into production next year.
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the company calls the leave of absence for a “well deserved break” and Tesla founder and CEO Elon Musk is known to run hard with their employees.
“I want to thank Greg Reichow, who was our boss of production in five years. He is still on the company and helps to get a new leadership in place, “said Elon Musk, during Wednesday evening’s conversation about the quarterly figures with analysts.
also Josh Ensign, director of manufacturing at Tesla, leaving the electric car manufacturer.
Tesla made a loss of 57 cents per share in the first quarter, which was lower than expected of one to a few cents. The loss increased significantly compared with the same quarter last year when it was 36 cents per share, but sales also increased by 45 percent.
Tesla’s revenues for the quarter landed on the expected $ 1.6 billion, equivalent to around 13 billion.
As already known Tesla produced fewer cars than we expected from January to March. The forecast stood at 16,000 cars, while 14 820 were delivered. During the year the company plans to produce between 80 000 and 90 000 cars.
“It’s easy to get wrapped up in the short-term stuff, but there are other things that count in the long run,” said Elon Musk during the call.
My desk is at the end of the production line.
in connection with the quarterly report also announced the Tesla that has advanced production target of 500 000 cars in 2020 by two years, until 2018. the car manufacturer has already has received close to 400,000 pre-orders of the upcoming Model 3.
“It (the decision) is based on the strong demand we have received from Model 3,” said Elon Musk.
He called the new target for the biggest strategic change that Tesla has done so far.
Tesla’s shares dropped sharply in value by 40 percent at the beginning of the year but began to rise again when the last quarterly report came in February. Among other things, delivery problems with the Model X messed up the electric car manufacturer, a car the company has commented that you had the hubris with current technology.
Read also: Tesla: “We had the hubris of the Model X car “
During Wednesday evening’s talks said Elon Musk that he personally checks the cars produced in Tesla’s factory.
” My desk is at the end of the production line. I have a sleeping bag in the conference room at the side of the manufacturing line that I use quite often, he said.
the days before the quarterly report was dropped Tesla in value again. at the close of trading on Wednesday, a low rate of minus 4 percent after the news that two top executives leave the company.
But shares rebounded by more than 3 percent in trading after market, after the quarterly figures were released.
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