HomeNews & EventsIndustry NewsTesla has a 'decent shot' at a record quarter on every level: Musk

Tesla has a 'decent shot' at a record quarter on every level: Musk

Tesla has a 'decent shot' at a record quarter on every level: Musk

FILE PHOTO: SpaceX founder Elon Musk speaks at a post-launch news conference after the SpaceX Falcon 9 rocket, carrying the Crew Dragon spacecraft, lifted off on an uncrewed test flight to the International Space Station from the Kennedy Space Center in Cape Canaveral, Florida, U.S., March 2, 2019. REUTERS/Mike Blake

(Reuters) - Tesla Inc has got “a decent shot at a record quarter on every level”, Chief Executive Officer Elon Musk said at the company’s annual shareholder meeting on Tuesday.

The electric-car maker’s stock rose 4% in extended trading. Musk also said the company was on track to hit its volume production goal by the end of this year.

Tesla’s deliveries fell 31% in the first quarter, sparking concerns about the company’s ability to make profits and meet its delivery targets as it grapples with issues related to cash flow and manufacturing while rivals step up electric efforts.

The company was still looking for a right place to build a gigafactory in Europe, Musk said at the meeting, and Tesla was likely to firm up on a decision by the end of the year.

Reporting by Vibhuti Sharma and Rama Venkat in Bengaluru; Editing by Maju Samuel

Authors: Admin

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