Elon Musk.

Tesla close to achieving profitability: Elon Musk

October 2, 2018

Amid a slew of controversies surrounding Tesla CEO Elon Musk, there comes some good news for the electric-car company’s investors and staff as the tech billionaire has now said that the company is close to achieving profitability…reports Asian Lite News

Elon Musk.

In emails to Tesla staff, Musk said that if the staff could pull through the pressure, the company could be close to achieving an “epic victory” on production goals.

The message from the Tesla boss could bring some cheer to the workers as the last few weeks had been quite tumultuous for Musk who had  agreed to step down as chairman of the company for three years and pay a $20 million fine in a deal with the US stock market regulatory authority, Securities and Exchange Commission (SEC), to resolve securities fraud charges.

The SEC announced the deal — two days after it sued Musk in federal court for misleading investors over his post on Twitter last month that he was considering taking Tesla into private ownership at $420 a share.

According to the SEC’s complaint, Musk’s misleading tweets caused Tesla’s stock price to jump by over six percent on August 7, and led to significant market disruption.

However, in two emails — one dated September 28 and the other September 30 — Musk exhorted staffers to “ignore the distractions” and that the company was close to “proving naysayers wrong”, the CNBC report said.

In order to “achieve a victory beyond all expectations, Tesla must go “all out” on production on Sunday which marks the end of the quarter, Musk said.

Previous Story

Google’s ‘Pixel Slate’ may come with 2 operating systems

Next Story

Trump says he has ‘great’ relations with Modi

Latest from ASIA NEWS

Khamenei threatens more strikes

Iran’s supreme leader rebukes Trump’s ‘surrender’ remark, warns of repeat attacks on US bases and Israeli targets. In his first public appearance

Iran Suspends IAEA Cooperation

The decision followed the recent US strikes on three Iranian nuclear sites …reports Asian Lite News The Iranian Parliament on Wednesday overwhelmingly