Published: Thu, May 03, 2018
Science | By Celia Watts

Elon Musk on Tesla call: 'Boring questions are not cool'

Elon Musk on Tesla call: 'Boring questions are not cool'

The company's stock price shed almost 5 percent of its value during after-hours trading Wednesday.

In response to the proposal, the company's board recommended not to vote for replacing Musk with an independent director. Next. Boring bonehead questions are not cool.

Mr Musk, who is also CEO of private aerospace manufacturer SpaceX, said: "Excuse me, excuse me". Sorry, these questions are so dry.

Later, when an analyst asked about whether customers with Model 3 reservations were configuring their cars after reaching the front of the queue, Musk expressed exasperation.

Musk added, "Really, the problem is like people get too focused on like what's happening in the space of a few weeks or a few months". "I'm not here to convince you to buy our stock".

Russel, the YouTuber, asked why Musk would want to allow other vehicle brands to use Tesla's Supercharger stations, which the company has installed all over the country.

The company said in a note to investors on Wednesday that Model 3 production was on the rise and that it expected profitability in the second half, under generally accepted accounting principles.

Investors expected Tesla to eat through significant cash as the company doubled down on solving a string of manufacturing issues that have plagued the Model 3.

Tesla began the quarter with $3.96 billion in cash and equivalents, but that fell to $3.22 billion by quarter's end.

The Model 3's price point - thousands of dollars cheaper than Tesla's other two vehicle models -revolves around it being relatively simple to mass produce.

The company stood by a previously announced target of building 5,000 Model 3s per week by the end of June and Investing.com analyst Clement Thibault said the reduction was noteworthy, "but in the long run given challenges that lay ahead of Tesla, I don't think it is going to make or break the company".

Christian Stadler, of Warwick Business School, told Express.co.uk that, "if Tesla carries on the way it is going it will not survive, I think investors are right to be anxious".

And if more manufacturing hangups are in store for Tesla, the company could be headed for a cash crunch.

Tesla did not break out a cash flow calculation that it had included in previous quarters.

Tesla shareholder urges to boot Elon Musk as board chairman Elon Musk, the head of U.S. electric vehicle producer Tesla, may lose his position as the board's chairman as one of the firm's stakeholders submitted a proposal urging the board to hire an independent director. Toward the finish of the central quarter, there were more than 450,000 bookings for the Model 3, which as we as a whole know has had a moderate rollout.

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