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.
News
Dave Crosby, the individual who captured the attention of all three Voice Judges in record time. Watch his incredible performance – it’s truly astonishing!
From the moment he graced the stage, it was evident that a remarkable performance was about to unfold. As Dave serenaded the room, a captivating melody filled…
Tom Brady Sparks New Dating Rumors After Being Spotted Out At Dinner With Popular Sideline Reporter
Tom Brady has set off another wave of dating speculation following his brief romance with Irina Shayk. According to TMZ, the former NFL star was spotted out in Beverly…
REPORT: Several Chiefs & Dolphins Players Suffered Frostbite During Saturday’s Grueling Playoff Showdown
Multiple players are said to have suffered frostbite during Saturday night’s playoff showdown between the Kansas City Chiefs and Miami Dolphins at Arrowhead Stadium. The game was the fourth-coldest in NFL…
Female Eagles Fan Unleashed All Sorts Of Cruel, NSFW Insults Towards Bucs Fans After Her Team’s Ugly Wild Card Loss In Tampa (VIDEO)
A female Eagles fan went off on Buccaneers supporters after having to sit through a frustrating Wild Card fixture in which her team put just nine points…
Female Eagles Fan Unleashed All Sorts Of Cruel, NSFW Insults Towards Bucs Fans After Her Team’s Ugly Wild Card Loss In Tampa (VIDEO)
A female Eagles fan went off on Buccaneers supporters after having to sit through a frustrating Wild Card fixture in which her team put just nine points…
Jalen Hurts Had An Interesting 7-Word Response After Being Asked If He Wants Nick Sirianni To Remain The Eagles’ Head Coach (VIDEO)
Jalen Hurts has taken an exit at the first opportunity as his Eagles are out of the playoffs following a season in which they raced to 10-1 before…
End of content
No more pages to load