Elon Musk has expressed concerns to investors regarding how the U.S. economy’s state may negatively impact Tesla’s growth.
Elon Musk remains the world’s richest person despite recently losing $24billion
Elon Musk has alerted investors in an earnings call that Tesla’s long-delayed Cybertruck won’t be cash flow positive for years.
The electric auto manufacturer announced the truck in 2019 and has slated it for a November 30 release.
Musk, Tesla’s CEO, suggested that investors manage their expectations for Cybertruck’s launch during the fourth quarter — especially after troubling third quarter reports.
The Tesla founder’s net worth took a $24billion hit during quarter three due to his car company’s underwhelming sales.
Tesla shares also dropped 9 percent Thursday, according to CNBC.
Tesla’s Cybertruck currently carries a $39,900 starting price
However, Musk remains the world’s richest person with an estimated net worth of $231billion, Forbes reports.
Cybertruck demand remains high amongst the public, with over one million reservations, but the model’s production scaling challenges are sparking anxiety within the company.
Musk said: “We dug our own grave with the Cybertruck.
“Cybertruck’s one of those special products that comes along only once in a long while.
“And special products that come along once in a long while are just incredibly difficult to bring to market to reach volume, to be prosperous,” The Verge reports.