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Tesla close to achieving profitability: Elon Musk

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ADELAIDE, Sept. 29, 2017 (Xinhua) -- Elon Musk, Chief Executive Officer (CEO) of Space Exploration Technologies Corporation (SpaceX), speaks on the final day of the 68th International Astronautical Congress (IAC) in Adelaide, Australia, on Sept. 29, 2017. SpaceX unveiled its plans to put humans on Mars as early as 2024 in Australia on Friday. (Xinhua/Yan Han/IANS) by .
Elon Musk, Chief Executive Officer (CEO) of Space Exploration Technologies Corporation (SpaceX),

Amid a slew of controversies surrounding Tesla CEO Elon Musk, there comes some good news for the electric-car company’s investors and staff as the tech billionaire has now said that the company is close to achieving profitability…reports Asian Lite News

Elon Musk. (Photo: Twitter/@elonmusk) by .
Elon Musk.

In emails to Tesla staff, Musk said that if the staff could pull through the pressure , the company could be close to achieving an “epic victory” on production goals.

The message from the Tesla boss could bring some cheer to the workers as the last few weeks had been quite tumultuous for Musk who had agreed to step down as chairman of the company for three years and pay a $20 million fine in a deal with the US stock market regulatory authority, Securities and Exchange Commission (SEC), to resolve securities fraud charges.

The SEC announced the deal — two days after it sued Musk in federal court for misleading investors over his post on Twitter last month that he was considering taking Tesla into private ownership at $420 a share.

According to the SEC’s complaint, Musk’s misleading tweets caused Tesla’s stock price to jump by over six percent on August 7, and led to significant market disruption.

However, in two emails — one dated September 28 and the other September 30 — Musk exhorted staffers to “ignore the distractions” and that the company was close to “proving naysayers wrong”, the CNBC report said.

In order to “achieve a victory beyond all expectations, Tesla must go “all out” on production on Sunday which marks the end of the quarter, Musk said.