Elon Musk sent an e-mail to his Tesla employees urging them to reduce production costs. Otherwise, they may say goodbye to the company’s high shares. She informed about it CNN stations.
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Tesla shares are among the best rising in 2020. After several loss-making years, the company has now reported five profitable quarters in a row, which has helped it become the world’s most valuable carmaker with a market price of $ 209.47 billion.
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However, its CEO Elon Musk admitted in an e-mail message addressed to employees that the company’s actual profit margin is only around one percent. He added that the share price does not depend on past results, but on investors’ expectations of future profits.
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“If investors ever come to the conclusion that we are not on the right track, our shares will be crushed like a souffle under a hammer!” Musk wrote in an e-mail message to which Tesla declined to comment. The report focused primarily on the importance of finding ways to achieve the slightest cost savings in car production.
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“It’s a challenging penny game that requires thousands of good ideas to improve component prices, factory processes, or design itself while increasing quality and improving our capabilities,” he wrote. “A great idea would be one that saves five dollars, but most ideas put 50 cents here, 20 cents there,” he added.
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Tesla is a world leader in the production of electric cars. Other major automakers are taking steps to get closer to it. For example, General Motors recently announced its plan to completely reorient itself to electric car manufacturing. One of the impetus for this decision is the fact that electric cars may be cheaper to manufacture than petrol vehicles that require more components.
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Musk, the second richest man on the planet, said in an interview with technology and media company Axel Springer on Tuesday that, given the high price of Tesla shares, he does not rule out the future purchase of a foreign carmaker.
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“We will certainly not launch any enemy takeovers. But if it seemed like a good idea to merge with Tesla, we would start talking to him, “he said.
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He also commented on the fact that Tesla’s shares are five times higher than those of Volkswagen, the world’s largest carmaker in terms of sales. “I even said the stocks are too high. What more can I do, “he said with a smile. He recalled his twitter post from May this year, after the publication of which Tesla shares fell sharply.
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