Elon Musk continues to buy shares of its company Tesla

Elon Musk continues to buy shares of its company Tesla

June 18, 2018 0 By autotimesnews

The founder and the head of the company Tesla shows in practice his confidence in the success of the company. Elon Musk again bought a large block of shares worth about $ 25 million.

Despite the fact that many analytical agencies from around the world predict the imminent bankruptcy of Tesla, Elon Musk himself (the head and founder of the American company) does not hesitate to prove otherwise. So, the day before, he again purchased a large stake in his company in the amount of 72,500 units. This cost him $ 24.9 million of his own funds. And in early May, he already bought shares worth $ 9.9 million.

Thus, it can be concluded that the company can soon make a significant profit. But this will only be possible if the planned production volume of Tesla Model 3 vehicles is 5,000 units per week. According to Elon, this will be achieved already at the end of this month, and later the full potential of the factory, capable of producing up to 10,000 cars a week, will be realized.

As history shows, Elon Musk keeps his promises, but can significantly err with the timing. At least, the purchase of shares of its own company for large amounts is to show in confidence its own enterprise.

It also became known earlier that Tesla will be forced to reduce approximately 4,000 employees, not directly related to the production of Tesla Model 3. However, all voiced employees will be offered work in other projects of the company while maintaining a sufficiently high salary. This will further increase the profitability of the production of fully electric models.

In addition, the production of the twin-engine version of Model 3 will soon begin, and when the planned volumes are reached, the production of the most budgetary version of this model will be established. In addition to electric vehicles, the company uses its own technology to produce batteries and electric motors and sells it to other automotive companies, in particular Toyota and Daimler.

Meanwhile, it became known that the second generation of the electric sports car will receive a special version of the Roadster. So, in the market there will be an additional version of ultra-fast electric car SpaceX.