Musk says don't buy Tesla, goes to YouTube as call devolved

Tesla’s founder Elon Musk is also behind the SpaceX project to send a spaceship to Mars but he is having trouble getting his electric car business off the ground

Elon Musk calls out Tesla skeptics in a tweetstorm 2 days after his confrontational earnings call

Some on Wall Street were puzzled by what they called Musk's "unusual" performance on his latest earnings call, but he did share a few details about Tesla's planned autonomous vehicle network.

Musk is now on damage control, attempting to justify his unusual behavior in an unfiltered tweetstorm. Without additional cash, some analysts have predicted that Musk faces a reckoning if he needs more money from investors to fund operations, capital spending and debt payments that are due early next year.

However, production of the Model 3 hasn't been going smoothly. He talked about building a new factory for a second SUV and hitting 2,000 orders for a proposed Tesla semi.

Both Sacconaghi and Spak have "moderate" views on Tesla. Moody's dropped Tesla's credit rating in March and changed the company's outlook to negative as the fledgling Model 3's production dwindles while the automaker's financial situation grows dim. Fresh design cues from the Model 3 such as the flat, grille-free front end could also define the new vehicle.

"It will be, I think, incredible from a manufacturing standpoint, because we do not want to go through this pain again", he added.

However, the firm likes to shuffle its powertrain offerings around often and without warning, so however the Model 3 line-up looks in 2019, it is likely to be replicated by the first Model Ys.

Will it have the same production problems as the Model 3? Tesla will undergo "a sort of reorganization, restructuring" this month to help achieve that goal, he said.

Tesla has abandoned plans to develop the Model Y around a new dedicated electric platform, and it will now use the same underpinnings as the Model 3, Musk confirmed. Yet some investors are concerned that the company will need to raise additional capital by the end of the year. The first-quarter loss hit almost $710 million with a cash burn of $745 million. Musk fired, "Excuse me".

Musk referenced a question from Bernstein analyst Toni Sacconaghi, who had asked about the capital requirements Tesla may need to keep the lights on and its assembly lines running. "Next. Boring, bone-head questions are not cool".

The outspoken CEO spent the following 20 minutes speaking with Galileo Russell, a retail investor and host of the YouTube channel HyperChance TV, who convinced Musk on Twitter to allow him on the call despite it being reserved for analysts, investors, and the media. Tesla's median Wall Street price target is $317. It was the third consecutive quarter of losses exceeding $600 million.

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