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Elon Musk says production and not demand is Tesla problem

Elon Musk says production and not demand is Tesla’s problem

Elon Musk has revealed that the biggest problem plaguing Tesla is production and not demand. He said this in a Tweet, replying to increased demand for his company’s electric cars after Autonomy rolled out a purchase subscription option.

It had all started after Bloomberg reported that Tesla and GM were the biggest winners from the startup’s offer. According to a Twitter account that tweets about Tesla vehicles, the company had gotten a total of 8,300 orders worth over $440 million from the program.

However, not long after that, Musk was in a jubilatory mood because one of the company’s factories reached a feat of pushing out one million vehicles.

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In the first quarter of 2022, Tesla blamed its slowed production rate on lockdowns in China. “…numerous supply interruptions, including shutdowns in our Shanghai factory and nearby suppliers due to covid,” Tesla CFO Zach Kirkhorn had mentioned when talking to investors in April.

Following that, Elon Musk started decrying the inflation rate which was increasing the cost of production and forcing it to raise prices as well. In addition to this, chip shortage worldwide also made it harder to to get the necessary materials to keep producing vehicles at an accelerated rate.

So, Tesla is not facing a demand issue, rather, it is trying to supply as quickly as customers need them.

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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.