1:39 P.M. ‘ Car biz is hell ’: Elon Musk …

Tesla’s Model 3 production ‘ hell ‘ continues. Elon Musk , in a testy Twitter exchange , said he is ‘ back to sleeping at the factory ‘ while trying to fix production delays with the Model 3 electric car. It’s a move reminiscent of Tesla’s last vehicle launch , the Model X … When Musk famously kept a sleeping bag near the production line so he could immediately address any hiccups.

‘ Car biz is hell ‘ Musk said. The posts on Twitter came as investors awaited Tesla’s first-quarter production numbers , which fell short of the company’s forecasts. The exchange , with a reporter at The Information , a tech and business news site , followed a story by the outlet that Musk had taken over Model 3 production from Tesla’s head of engineering , Doug Field.  For the last year , Field has managed engineering of both the vehicle and its production. Musk said Field had originally been tasked with both jobs to ensure Tesla doesn’t design cars that are ‘ crazy hard to build ‘ but now that Tesla was back in the thick of production , ‘ it’s better to divide and conquer ‘…

Tesla falls short on Model 3 production target , but shares are going up anyway. Elon Musk makes light of Tesla’s troubles in April Fool’s bankruptcy tweets … Elon Musk is today’s Henry Ford … That’s not a good thing …

Tesla built 2,020 Model 3 cars in the last seven days , trailing its target for a 2,500-unit rate for the final week of March. Tesla delivered 8,180 of the sedans in the first three months of the year , missing analysts’ average estimate for about 8,800 units in a Bloomberg News survey. Despite the shortfall , Musk promised a speedy acceleration in the next three months. Tesla shares opened up as much as 6.9 per cent and gained 2.2 per cent to US$258.11 as of 9:47 a.m., regaining some ground after a 22 per cent slump in March.

Elon’ showing the world that even billionaires have to work hard at times …

 

Source: ‘Car biz is hell’: Elon Musk back to sleeping on the factory floor as Model 3 delays pile up | Financial Post

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