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Two setbacks for Tesla: Gigafactory problems and stock slump thanks to Elon Musk

2021-11-02T15:03:25.198Z


The electric car manufacturer Tesla has to cope with two bad news. A tweet from boss Elon Musk causes trouble and the "Gigafactory" project comes to a standstill again.


The electric car manufacturer Tesla has to cope with two bad news.

A tweet from boss Elon Musk causes trouble and the "Gigafactory" project comes to a standstill again.

Palo Alto / Grünheide - Tesla founder Elon Musk scared investors again with a tweet.

Musk wrote in the news service Twitter that the contract announced last week with the rental company Hertz for the purchase of 100,000 e-cars was "not yet signed" at the moment.

Tesla's share then fell four percent in electronic commerce.

Tesla boss Elon Musk: rental car company Hertz does not receive a volume discount on e-cars

Musk responded to a tweet showing the graph of Tesla stock price on Monday.

The price hit a new record high of $ 1208.

If “Hertz is the reason, then I would like to emphasize that no contract has been signed at the moment”.

The demand for Tesla's cars is also "much higher" than production.

That's why Tesla only sells to Hertz "with the same margin" as to private customers - that means: There is no volume discount.

Hertz announced a week ago that it would buy 100,000 Tesla by the end of next year.

Customers should be able to rent a "Model 3" from November.

Shortly thereafter, Tesla's stock rose by over twelve percent, and the electric car manufacturer's stock market value reached over a trillion dollars.

Hertz had not commented on the contract with Tesla and did not specify any delivery times.

Musk even took a break from the Internet service Twitter earlier this year because his news there often caused a stir on the stock market.

The Tesla founder has millions of followers.

The US Securities and Exchange Commission accused him of misleading shareholders in 2018 after pondering about taking Tesla off the stock exchange.

Musk had to resign as Tesla's supervisory board chairman and was given conditions for his statements in online media.

Tesla factory: Objections will be discussed again

But the stock's fall isn't the only bad news Tesla has to face today.

The many objections to the new Tesla factory near Berlin have been publicly discussed again since Tuesday.

The new online procedure should last until November 22nd.

The discussion was actually closed once on October 14, but will be repeated due to possible procedural errors.

Environmentalists, residents and other critics had raised more than 800 objections to the plant in Grünheide in Brandenburg.

Among other things, they are concerned about the high water consumption in production and possible incidents.

They criticized the first discussion because it was announced too late.

That is why the State Environment Agency has the procedure repeated for safety reasons.


As a result, the schedule for the start of production at the plant has become more uncertain.

Tesla boss Elon Musk is aiming for the first vehicles to roll off the assembly line in Grünheide by December at the latest.

The final approval of the state is still pending.

To do this, the new online discussion must first be evaluated.

(AFP / dpa)

Source: merkur

All news articles on 2021-11-02

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