Tesla CEO Elon Musk Admits 'Humans Are Underrated'

Monday, 16 Apr, 2018

Huang's family says he complained to Tesla service departments on multiple occasions that Autopilot had steered his vehicle on multiple occasions toward the barrier that his auto eventually crashed into.

Musk went further on Friday in a tweeted response to a story in The Economist, which cited estimates Tesla would need $2.5 billion to $3 billion this year in additional funding. "Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money", Musk wrote. But he also admits he's fallen behind on the production goals for the popular Model 3.

A Bloomberg tool that estimates Model 3 production based on VIN registrations puts the current pace at about 3,000 units per week, far below the company's stated target of 5,000 units sustainably produced per week by the end of Q4 previous year.

The significant production shortfall has delayed crucial customer deliveries. "Should they be anxious about what's happening with their Model 3 and when they will get their Model 3?"

The longer it takes for Tesla to solve the issue, the more the carmaker is at risk of changing production hell into recall hell in the future to come. It did not mention fourth-quarter projections. "It's about the next 10, 20 years", he said.

"Beginning on May 3, 2017 and continuing throughout the class period, [the] defendants misrepresented to investors the then-current state of affairs with respect to whether the company was on track to mass produce the Model 3 in 2017, and whether progress had been made supporting [the] defendants claims that 5,000 Model 3s per week would be produced before the end of 2017", the plaintiffs said, according to The Street.

Prompted by delays, Musk personally took over Model 3 production from SVP of engineering Doug Field earlier this month.

Moody's added its negative outlook for Tesla "reflects the likelihood that Tesla will have to undertake a large, near-term capital raise in order to refund maturing obligations and avoid a liquidity shortfall".

"Such releases of incomplete information often lead to speculation and incorrect assumptions about the probable cause of a crash, which does a disservice to the investigative process and the traveling public".

Tesla lashed out at the NTSB and said it planned to complain to Congress.

"The system worked as described, which is that it's a hands-on system".