Increased production
The founder of the company pointed out during his speech that supply restrictions and not competition from rival manufacturers currently represent the biggest brake on Tesla’s growth.
“Our limitations are much more raw materials and being able to increase production,” said Musk, who earlier this month acknowledged in an internal email to employees that the company had had a “very difficult quarter” as a result of problems with the supply chain.
“As anyone who has tried to order a Tesla knows, the demand for our cars is extremely high and the waiting list is long…This is unintentional and we are ramping up production capacity as fast as humanly possible,” he said.
US recession
On the other hand, the richest man in the world indicated, contrary to the thinking of analysts, that in the short term he considers the entry into recession of the United States “more likely than not”, after the US Federal Reserve has been pushed to raise interest rates to contain inflation. “A recession is inevitable at some point; as for a recession in the short term, it’s more likely than not,” Musk said. “It’s not a certainty, but it seems more likely,” he added.
The Twitter purchase
Elon Musk warned that there are still some “unresolved issues” regarding Twitter, including a clarification by the company on the number of fake accounts and ‘bots’ that interact on the social network, as well as on issues such as debt and the approval of the operation by the shareholders.
“There is the question of whether the debt part of the round will come together and then the shareholders will vote in favor,” he said. The manager has assured that, in the case of materializing the purchase, his intention is to “promote the product” on Twitter, although it would not necessarily mean becoming the CEO.
In mid-May, the tycoon decided to temporarily suspend the purchase of Twitter, agreed at the end of last April for some 44,000 million dollars (42,156 million euros), pending details that support the company’s calculation that fake/spam accounts represent less than 5% of users.
Subsequently, through a letter sent in early June by Musk’s lawyers to the United States Securities Market Commission (SEC), the billionaire’s legal team considered Twitter’s position a “substantial breach” of its obligations under the merger agreement, warning that Elon Musk “reserves all resulting rights, including his right not to consummate the transaction and his right to terminate the merger agreement.”
Source: Ambito
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