Elon Musk steps down as Tesla Chairman after Controversial Tweet

Elon Musk steps down as Tesla Chairman after Controversial Tweet

Elon Musk steps down as Tesla Chairman after Controversial Tweet

When confronted by customers waiting for vehicles for which they've put down a payment, Musk has said Tesla is encountering difficulties delivering cars to customers due to a shortage of car-hauling trucks, but experts say no such shortage exists and that other automakers are shipping their cars around the USA just fine. Tesla will also need to bring a couple more independent directors on board. And this is despite the company only producing three variants of the electric sedan - the Long Range RWD, Dual Motor AWD, and Dual Motor Performance Model 3.

A more worrisome problem would be if Tesla built these cars and now doesn't have customers willing to take them. It produced about 80,000 vehicles overall, the site said.

The past quarter's accomplishments aren't likely to keep skeptics from wondering if Tesla will be able to crank out enough of its cars to be profitable. "It's sort of this insane carnival". That's slightly better than its second-quarter performance and in line with its full-year guidance. Overall, 55,480 of these were Model 3s compared to 14,470 Model Ss and 13,190 Model Xs. It delivered 83,500 cars total, slightly more than it produced.

Indeed, the controversies abound for Tesla.

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Shares of Tesla jumped almost 16% today after chief executive Elon Musk settled with the US Securities and Exchange Commission (SEC) over charges of misleading investors, heading off moves to force him out.

'The open board chairperson role creates an opportunity for Tesla to potentially put someone in place that is capable of influencing Musk and helping Tesla reach sustainability, ' said Munster, who is a noted Tesla bull. It appears that future production goals are reportedly 6,000 per week and eventually 10,000, which CEO Elon Musk targeted as a company goal by the end of 2018.

Musk has agreed to pay out the $20 million fine.

It was these two last words that got him into trouble, with the SEC laying charges of securities fraud, and alleging that he had not had any serious discussions about funding at all.

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In a sign of the manufacturing process improving, Musk in an email to employees on Saturday said the company was "very close to achieving profitability". If we go all out tomorrow, we will achieve an epic victory beyond all expectations.

Musk posted a series of tweets in August that detailed his now-defunct plans to take the electric carmaker private. At the moment however, Tesla has yet to name a new chairman.

In 2013, the company stated that it would use Musk's Twitter account as a means of announcing material information, however this has been diluted over the years by tweets of Musk's other firm, The Boring Company and various personal jokes.

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