News & Opinion | June 17, 2018 8:09 am

Elon Musk Faces Long Road Towards Tesla Success

The Financial Times analyzes what the job cuts, production delays mean.

sleeping driver
CEO Elon Musk said Tesla is looking into the case of a sleeping driver.(Justin Sullivan/Getty Images)
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There’s no roadmap for taking Tesla as far as Elon Musk has vowed to take the company, but the controversial entrepreneur isn’t the type to stop and ask directions. Given the difference between the optimism espoused by the company’s founders and some of the numbers that have been in the news lately, The Financial Times has a timely article taking stock of the state of Tesla.

It’s just in time: This week, Tesla this announced a company-wide restructuring that will lead to the loss of about 3,500 jobs, which is roughly 9 percent of the staff. The car company has been trying to navigate a lot of bad headlines in recent months, including production delays, executive departures and a high-profile, fatal crash involving its autopilot system.

“To the critics who have long circled the company (many of them short sellers who hope to profit from a collapse in its stock), all of this has been proof that Tesla and its chief executive are in danger of unraveling — operationally, financially and psychologically,” writes The Financial Times.

“Mr Musk himself has been at the centre of the drama. On a conference call to discuss Tesla’s earnings last month, he dismissed ‘boring bonehead questions’ from one analyst and ignored a question from another altogether. Mr Musk’s flash of pique instantly wiped 8 per cent from the Tesla stock price, and forced even his fans to recoil.”