Thursday was a bad day for Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk, who suffered a loss of about $390 million in papers following the explosion of his SpaceX rocket. Meanwhile, Tesla is also retooling its factory in Fremont, California, in preparation for the Model 3, which is expected to begin selling at $35,000 before incentives.
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In the email, Musk urges employees to deliver as many vehicles as possible by the end of the quarter – September 30. The third quarter is crucial to Tesla’s future because the company is trying to acquire SolarCity Corp. and preparing to roll out the Model 3, its lower-priced sedan, late next year.
CEO Elon Musk said Wednesday morning the company is about to announce “major improvements” for its driver-assist technology, called Autopilot. And any positive news about Autopilot could also help Tesla in its ambitious target for 50,000 vehicle deliveries in the second half of the year.
Tesla made history Tuesday when it declared a new battery upgrade that enables the Tesla Model S with Ludicrous to drive 315 miles on a single charge, however as numerous have actually already discovered, very few will have the ability to experience it.
“It’s essentially material information that I think the Tesla board has to consider”, Stephen Diamond, an advisor to Tesla investor group CtW, told reporters.
Mobileye (MBLY), a Tesla supplier of advanced driver-assistance systems, last month disclosed that its partnership with Tesla was ending. Critics have chided the Musk and Tesla officials for not shutting down the function in light of the fatal crash in May, but Musk steadfastly maintained that the system was not being used properly and that the company would continue with its development program. Analysts worry that whenever the company sells more stock, the share price of Tesla Motors will be affected.
However, the Autopilot feature can also be a lifesaver, as demonstrated when the driver of a Tesla Model X was driven to hospital by the vehicle when he suspected he was having a heart attack.
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Tesla’s filing admitted that 15 tech investors passed on either purchasing SolarCity or shoveling cash into the bloated solar panel maker.
