Tesla chief executive Elon Musk on Sunday acknowledged that the electric car maker’s problems have now shifted to delivery logistics from production delays, the latest speed bump in its efforts to achieve profitability.
"Sorry, we've gone from production hell to delivery logistics hell, but this problem is far more tractable. We're making rapid progress. Should be solved shortly," Mr Musk said in a tweet in response to a customer complaint on delivery delay.
___________________
Read more:
[ Tesla stock falls as fresh furore hits Elon Musk ]
[ Tesla bond and stocks slump as investors' concerns grow ]
[ Tesla's crown jewels may be an option to raise cash ]
___________________
The 47-year-old billionaire who earlier this month faced investor ire over smoking marijuana on a live web show, has indicated in the past that Tesla’s customers may face a longer response time because of a significant increase in vehicle delivery volume in North America.
Tesla’s ability to deliver on production targets has weighed on its stock in the past, and the company has been working to iron out production bumps after failing to meet production targets for its Model 3 sedans.
The company said in August that it expects to build a total of up to 55,000 Model 3s in the third quarter.
Mr Musk said last week the company would eliminate some color options for its electric cars to streamline production.
The Beekeeper
Director: David Ayer
Starring: Jason Statham, Josh Hutcherson, Emmy Raver-Lampman, Minnie Driver, Jeremy Irons
Rating: 3/5
Masters of the Air
Directors: Cary Joji Fukunaga, Dee Rees, Anna Boden, Ryan Fleck, Tim Van Patten
Starring: Austin Butler, Callum Turner, Anthony Boyle, Barry Keoghan, Sawyer Spielberg
Rating: 2/5
Company Profile
Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000
COMPANY PROFILE
Name: Xpanceo
Started: 2018
Founders: Roman Axelrod, Valentyn Volkov
Based: Dubai, UAE
Industry: Smart contact lenses, augmented/virtual reality
Funding: $40 million
Investor: Opportunity Venture (Asia)
COMPANY PROFILE
Company name: SimpliFi
Started: August 2021
Founder: Ali Sattar
Based: UAE
Industry: Finance, technology
Investors: 4DX, Rally Cap, Raed, Global Founders, Sukna and individuals
Profile box
Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
