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You are here: Home / Breakingviews – Virus hands Elon Musk electrifying cost challenge

Breakingviews – Virus hands Elon Musk electrifying cost challenge

· April 3, 2020 ·

Tesla Inc CEO Elon Musk attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China August 29, 2019. REUTERS/Aly Song NEW YORK (Reuters Breakingviews) – Elon Musk has a chance to prove to skeptics that he has finally wrapped his head around the basics of running a carmaker. Tesla’s boss seems to have ironed out most of the production problems that have plagued the electric-car maker for much of the past three years, if first-quarter sales numbers unveiled on Thursday are anything to go by. He has also amassed a decent stash of cash, which should be enough for Tesla to go almost a year without revenue before running out of juice. That’s better than either Ford or General Motors can manage. But Musk can only pull that off if he has finally mastered how to keep costs under control. Musk appeared to be making progress towards the end of 2019: Fourth-quarter automotive revenue of $6.3 billion exceeded expenses by $500 million, as production and sales both recovered from a poor start to the year. That appears to have continued into 2020, with production numbers exceeding 100,000 vehicles for the second quarter in a row. That’s despite operations being curtailed… Read full this story

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