Musk sets sights on a record Tesla quarter

Elon Musk’s leadership in question after Tesla stock hits lowest point since 2017

Wall Street Journal “Heard on the Street” columnist Charley Grant on the problems facing Tesla.

Tesla Chief Executivce Officer Elon Musk is setting his sights on the electric automaker having a record quarter.

Continue Reading Below

That's what Musk told those in attendance at the company's annual shareholder meeting held Tuesday.

Tesla shares got a boost from the comments, adding 3.6 percent to $225 in extended trading.

Musk laid out plans for global expansion and even made mention of a design for a submarine car.

Ticker Security Last Change %Chg
TSLA TESLA INC. 217.10 +4.22 +1.98%

Advertisement

The CEO also mentioned the company was on track to hit its volume production goal by the end of this year.

Questions have been raised about global demand, especially for the Model 3 sedan.

Deliveries fell 31 percent in the first quarter, but Musk echoed his forecast from last month that the company was on track to hit record deliveries in the second quarter.

Tesla previously said it plans to deliver 90,000 to 100,000 vehicles to customers in the second quarter versus 63,000 vehicles in the first.

The goal is to deliver 360,000 to 400,000 vehicles this year, according to Reuters.

CLICK HERE TO GET THE FOX BUSINESS APP

Musk plans to unveil an electric pickup truck this summer and getting into semi truck production toward the end of next year.

Musk also says battery production was the key to vehicle production.

Source: Read Full Article