Two million cars are to be produced annually. Dispute between company founder Musk and Twitter continues.
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The US electric car manufacturer Tesla is continuing to expand. Company founder Elon Musk announced at the annual general meeting in Palo Alto, California, that he would build another 6 to 8 so-called gigafactories out of the ground. He left the time horizon open, but Musk wants to specify at least one more this year. Tesla currently operates factories in California and Shanghai and is building two more factories in Grünheide near Berlin and Austin in the US state of Texas.
From next year, at least two million cars are expected to roll off the production line each year. In the previous year around 936,000 vehicles were delivered, in the first half of this year there were already more than 560,000. However, Tesla is also struggling with delivery problems and missing components, especially chips. Like all car manufacturers, the Americans are also struggling with rising raw material and energy costs.
However, if Musk manages to reach the 2 million mark, he will come dangerously close to established premium manufacturers. Audi, for example, only produced around 1.7 million vehicles last year. All major car manufacturers are also currently struggling with rising raw material and energy costs.
At the Tesla AGM, shareholders approved a stock split. The issue of new paper at a ratio of 1:3 is intended to make it easier for investors to invest. Paper has become much more expensive in recent years. Despite the overall fall in US tech stocks this year — Tesla is down 23 percent since January — it’s still trading at $925 a share. Had only two years ago Tesla split his shares at a ratio of 1:5.
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Zores with Twitter
Musk is still at odds with Twitter. He had let the planned takeover burst in July because of allegedly “false and misleading” information from the short message service. Twitter wants to legally force Musk to buy. The process for this will take place in October. Twitter has now declared that “evidence and common sense” contradict the “story” Musk is telling. It is unbelievable that “the founder of several corporations, advised by Wall Street bankers and lawyers” was tricked by Twitter.
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