Musk tells Tesla employees to prove 'naysayers' wrong

Article Image Elon Musk Resigns as Chairman Order to Pay $20 Million Fine

The company handed over 83,500 vehicles in the third quarter, doubling its total in the prior three months. Averaged over the quarter, the production number comes out to 4,295 cars per week. Tesla did not maintain that pace, but production was still high enough to keep the company on track to turn a sustained profit for the first time.

Tesla CEO Elon Musk urged employees to "go all out" in the final day of the third quarter, as the electric-car maker pushed to meet ambitious production goals for the Model 3. In the last week of the quarter, we produced over 5,300 Model 3 vehicles, nearly all of which were dual motor, meaning that we achieved a production rate of more than 10,000 drive units per week. In Q3, we were able to significantly increase Model S and X deliveries notwithstanding the headwinds we have been facing from the ongoing trade tensions between the U.S. and China. The company's target of 100,000 Model S and X deliveries in 2018 remains unchanged. However, it missed its weekly Model 3 production target and said it was facing a 40pc import tariff in China.

The electric vehicle maker's shares sank last week after the US Securities and Exchange Commission accused Musk of securities fraud, opening up the prospect of a long fight that could have seen Tesla lose its leader, and undermined its ability to raise capital and increase production. When asked, the company has only implied the cars are awaiting shipment.

On Tuesday morning, Tesla released its production and delivery results for Q3 2018.

Jose Mourinho fires warning at Manchester United squad ahead of Valencia clash
Pushed further on the squad's attitude, Mourinho added: "I think that some care more than others", while refusing to name names. United won their opening game 3-0 away to Young Boys, while Juventus and Cristiano Ronaldo also kicked off with three points.

North Korea Gifts Hunting Dogs To South Korea President Moon Jae
He also provided Moon with a letter that the South Korean leader hand-delivered to Trump. Trump said in his mock "news anchor" voice.

Ohio State outlasts Penn State in an instant classic: 3 takeaways
It stopped Penn State in its tracks and got it out of a rhythm. "I'm upset with myself", Penn State coach James Franklin said. He showed no signs of being caught up in the moment and seemed like an upgrade from Big Ten career touchdown leader, J.T.

"As a result of the settlement, Elon Musk will no longer be Chairman of Tesla, Tesla's board will adopt important reforms - including an obligation to oversee Musk's communications with investors - and both will pay financial penalties".

READ THIS: When will Tesla Model 3 all-wheel-drive, lower-range models be available?

Some have speculated that Tesla's insistence on building its own enterprise resource planning system is at the root of this problem, which has led to much grousing from disgruntled customers on Twitter and at various Tesla forums.

In reaction, Guggenheim analyst Rob Cihra, Tesla's biggest bull, reiterates a Buy rating on TSLA, with a $430 price target, which represents a potential upside of 38% from where the stock is now trading. Since Tesla only reports sales numbers quarterly, these reports were unconfirmed.

Related news:

Hot News

Mourinho is embarrassing Manchester United, says Scholes
Oct 03, 2018 - 02:26
United have twice before during Louis van Gaal's reign been late arriving for matches at West Ham United and Tottenham Hotspur. I am sat here actually surprised he survived after Saturday, the performance was that bad.

isis-killer-beheading-video-story-top Trump calls Kavanaugh allegations 'scary time' for men falsely accused
Oct 03, 2018 - 02:02
Former classmates have stepped forward to challenge Mr Kavanaugh's testimony about his drinking. But forget the 22 women who alleged that Trump groped, grabbed and kissed them.

isis-killer-beheading-video-story-top Le'Veon Bell to report to Steelers during the bye week
Oct 02, 2018 - 03:28
With Bell so far forfeiting $3.4 million of potential earnings this year and the Steelers skidding, the dispute has gotten ugly. ESPN's Adam Schefter reports that Le'Veon Bell expected to report to the Pittsburgh Steelers during week seven.

isis-killer-beheading-video-story-top U.S. shuts down consulate in Iraq's Basra citing Iranian 'threats'
Oct 02, 2018 - 03:27
Ruled by Shiite clerics, Iran has a strong influence in Iraq, especially in the country's Shiite-majority south. It is the country's oil capital and main port but remains one of the least developed parts of the country.

isis-killer-beheading-video-story-top Cardi B Turns Herself Into Police Over Fight at Strip Club
Oct 02, 2018 - 03:21
Another video showed the rapper being escorted out of the event by security. "You're angry and you're sad". And she's a featured performer on the top Billboard song at the moment , Maroon 5's "Girls Like You".

isis-killer-beheading-video-story-top New California internet neutrality law sparks U.S. lawsuit
Oct 02, 2018 - 03:21
They had cheered California's attempt to force the Obama-era rules back into effect through state legislation. Consumer advocacy groups touted the law as offering the strongest internet protections in the country.

isis-killer-beheading-video-story-top Elon Musk to give up role of Tesla chairman
Oct 02, 2018 - 03:20
Musk, a co-founder of Tesla , is the company's largest stockholder, owning approximately 22 per cent of its outstanding shares. Likewise, Tesla will pay another $20 million due to its failure to check whether Musk's announcements complied with the law.

isis-killer-beheading-video-story-top Some ‘care more than others’ about Man Utd crisis - Mourinho
Oct 02, 2018 - 02:33
Antonio Valencia also missed the trip to the London Stadium, but took part in the session at Carrington on Monday. I don't believe that any player goes onto the pitch not giving his best.

isis-killer-beheading-video-story-top Hurricane Rosa weakens, Southern California to see rain and high surf
Oct 01, 2018 - 02:46
The National Hurricane Center said the main hazard is heavy rainfall, both in Mexico and the American Desert Southwest. Rain is expected to begin Sunday afternoon in southeastern California and Arizona, where 2-4 inches is likely to fall.

isis-killer-beheading-video-story-top Fortnite Season 6 Trailer - Darkness Rises and Brings New Map Changes
Oct 01, 2018 - 02:33
It appears the Cube may continue to grow through Season 6 according to the following assets in the CubeGrowth folder. As you can see in the Tweet above, Calamity's dance adds a bit more realism to the overly-cartoony game.

isis-killer-beheading-video-story-top Barcelona 1-1 Athletic Bilbao
Oct 01, 2018 - 00:49
Messi came on in the second half and grabbed the assist for Munir El Haddadi's equaliser at the Camp Nou. Recent results have not been good but it is a long season'.

isis-killer-beheading-video-story-top Federal Bureau of Investigation probe ordered, Donnelly announces vote against Kavanaugh
Oct 01, 2018 - 00:13
The committee has said the probe should be limited to "current credible allegations" against Kavanaugh and be finished by Friday. Sanders says the White House counsel has allowed the Senate to dictate the terms and scope of the investigation.

isis-killer-beheading-video-story-top Another hairpin turn for Tesla as stock dives on SEC charge
Sep 29, 2018 - 21:54
If the company stays public, however, Musk could be forced to take a back seat role or exit the company entirely. Share value in Tesla is down more than 11.6 percent on the day, trading at $271.75 as of this writing.

isis-killer-beheading-video-story-top EUROPEAN UNION: EU, Iran agree on new payment system
Sep 29, 2018 - 21:51
Most concluded that their involvement was far too risky, certainly relative to their links to the world's biggest economy. The EU issued a "blocking statute" to protect European businesses from the impact of the sanctions.

isis-killer-beheading-video-story-top F-35 military plane crash reported in Beaufort County, South Carolina
Sep 29, 2018 - 21:50
Marine pilot safely ejected from the single-seat aircraft and is now being evaluated by medical personnel", said the statmement. The Marine Corps Air Station Beaufort is asking the public to avoid the area of the crash while the investigation continues.