Elon Musk: Tesla excessive automation was a mistake

Elon Musk: Tesla excessive automation was a mistake

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In the unusual billionaire manner of repentance, Tesla CEO Elon Musk admitted that the company is too hard builds robots for production. “Excessive automation in Tesla was a mistake,” wrote Musk tweeted in response to the question the Wall Street Journal reporter. “People are underestimated”. He added: “we had a crazy, complex network of conveyor belts. And it didn’t work so we got rid of it at all.”

Tesla has faced public pressure by slowing the production of its Model 3, the most inexpensive car in the company’s portfolio. Tesla failed to enter the production flow of 2500 vehicles per week, which upset investors.

Yes, excessive automation at Tesla was a mistake. To be precise, my mistake. Humans are underrated.

— Elon Musk (@elonmusk) April 13, 2018

The uncertainty has led to fluctuations in the value of the shares. A month ago the company’s stock was trading at $ 340, but has since fallen to $ 252. All began to recover only when Musk promised that the company will be a plus for the third or fourth quarter.

The Economist used to be boring, but smart with a wicked dry wit. Now it’s just boring (sigh). Tesla will be profitable & cash flow+ in Q3 & Q4, so obv no need to raise money.

— Elon Musk (@elonmusk) April 13, 2018

Capitalization of Tesla is 50.7 billion. For comparison, the capitalization of Ford Motors — $ 45 billion.