Money Map Press chief strategist Shah Gilani and The Fitz-Gerald Group Principal Keith Fitz-Gerald on tech stocks, meme stocks, economic recovery and today’s markets.
Tesla CEO Elon Musk said Wednesday that his company “dropped the ball” in the rollout of its new revamped Model X, calling the decision to halt production of the earlier version “idiotic.”
Tesla Motors CEO Elon Musk introduces the falcon wing door on the Model X electric sports-utility vehicles during a presentation in Fremont, California, U.S. September 29, 2015. (REUTERS/Stephen Lam/File Photo / Reuters Photos)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 932.00 | +10.00 | +1.08% |
Musk, the wealthiest person on the globe, made the comments in response to an apparent customer who expressed frustration on Twitter over delivery delays of the new model, and called for more communication from the company explaining the situation.
TESLA’S LATEST PRODUCT IS SOLD OUT
“We dropped the ball badly regarding new Model X production ramp & still haven’t fully recovered,” the CEO of the electric vehicle giant responded. “Was idiotic to stop production of old X in Dec 2020 when there was still plenty of demand!”
TESLA SUBPOENAED BY SEC OVER ELON MUSK TWEETS
The purported customer seemed happy with “the response and transparency,” and went on to praise the vehicle model before asking if Musk had “any idea when ramp might smoothen out and catch up with demand” while acknowledging “there’s some stuff not under your control.”
Tesla CEO Elon Musk Twitter (REUTERS/Michele Tantussi/File Photo / Reuters Photos)
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“Model X is an extremely difficult car to build,” Musk replied. “Most complex passenger car ever. Limiting factor is interior trim.”
