Tuesday, April 23, 2019
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Mask called 2018 the worst in his career

Creating a successful car company is incredibly difficult, and the fact that Tesla still exists is absurd, according to Ilon Musk. In 2018, in order to support the company, he, he said, had to work 120 hours a week

Elon Musk

(Photo: Chris Carlson / AP)

The founder of Tesla, Ilon Musk, complained about the worst year of his career. So he responded about the “agonizing” 2018th, during which, according to him, he aged for five years. This businessman told in an interview to the portal Recode.

At Tesla, as Mask admitted, there were difficult to implement plans for the production of Model 3 sedans. "It is incredibly difficult to survive." [на рынке] as a car company, "added the entrepreneur, noting that people do not know how much Tesla was worried about the situation." It was painful, "Musk noted. “We are fighting incredibly competitive automotive companies. They make very good cars. They did it for a long time and entrenched [на рынке]. Mercedes, Audi, BMW, Lexus – all these brands of cars. The only companies that did not go bankrupt [конкурируя с ними] are Tesla and Ford. That's all. All the others went bankrupt, ”the businessman noted, stressing that in this area it’s“ incredibly difficult to succeed. ” "It is absurd that Tesla [до сих пор] alive, ”he added.

To achieve such results, Mask, in his words, had to make “painful efforts” in “one hundred hour working weeks.” According to the businessman, there was no other way to keep Tesla afloat. Otherwise, the company would have ceased to exist, I am sure Musk. "This year was [много работы] because of the Model 3 product line, ”explained the entrepreneur, noting that Tesla employees had to correct many errors in the production system of this sedan model.

The WSJ found out about the FBI investigation against Tesla because of the new sedan.

"There were times a few weeks when <...> I didn’t count for sure, but I just slept only a few hours, worked, slept a few hours, [снова] worked, seven days a week, ”shared Musk. "It must be [работал] 120 hours [в неделю] or something so crazy, ”he added, noting that Tesla employees now work up to 80 or 90 hours a week. “It's pretty easy,” the entrepreneur assured.

Earlier, on October 25, for the first time in two years, Tesla reported on profits. In the third quarter of 2018, it was $ 312 million, or $ 1.75 per share, compared with a loss of $ 4.22 per share in the second quarter. The company's revenue at the same time amounted to $ 6.8 billion. Musk, commenting on this, called the third quarter of 2018 "really historic" for Tesla. The production rate of Tesla Model 3 cars for this period, as noted by CNBC News, has grown by more than 30%.

Prior to that, in 2018, Tesla's losses hit a record twice – in the first quarter, the company lost $ 709 million, in the second – $ 717.5 million, which more than doubled in 2017.

The third quarter of 2018 also became the last for Musk as the chairman of the board of directors of the company. In September, the US Securities and Exchange Commission found the entrepreneur guilty of misleading shareholders. The reason was the publication of the entrepreneur on Twitter, in which he offered to buy out the company's shares from the exchange at a price of $ 420 apiece and convert Tesla into a private company.

After investigating this production, Musk concluded a peace agreement with the US authorities, under which he pledged to pay a $ 20 million fine and leave the post of chairman of the board of directors of Tesla. The company will have to pay the same amount, according to the regulator’s decision, Musk has already announced that he plans to purchase Tesla shares for this amount.


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