Tesla Might Break Even In Q2: Musk Calls For All Hands On-Board

Ruben Fields
June 30, 2020

"Breaking even is looking super tight", Musk wrote in an email to employees obtained by Bloomberg and first reported by Electrek.

Musk, 49, has routinely sent emails to rally the troops at the end of a quarter or year, and Tesla hasn't always lived up to the expectations set by his internal memos.

The electric auto and solar panel company is cranking out the new Model Y smaller SUV as it tries to break even or make money.

The Palo Alto-based company is expected to report its second quarter vehicle production and deliveries numbers before the 4th of July.

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Russian Federation and the United States were not included into the list, in line with epidemiological criteria. The United States, which continues to record a high number of Coronavirus cases is also not on the list.

Tesla surprised investors at the end of the first 2020 quarter with its first ever profit for what is traditionally a negative quarter (factories had only been closed for a week or so), delivering 88,400 vehicles and announcing it had officially started delivering its fourth volume electric vehicle, the Model Y. The company had also revised its near-term profit guidance and said that it is "on hold".

The company is gunning for inclusion on the S&P 500, which requires a minimum of four consecutive quarters of profitability. Tesla had filed a lawsuit in March of previous year against Zoox and four former employees.

Production at Tesla's only US vehicle factory in California was shut down for more than six weeks from the end of March to early May due to local lockdown orders aimed at curbing the spread of the coronavirus. Tesla had about 48,000 employees at the end of past year, and CEO Elon Musk corresponds frequently with Tesla workers to push them to work harder.

The company is producing its latest Model Y crossover SUVs in a massive tent, where it previously made a portion of its Model 3 electric sedans. "Please go all out to ensure victory!" The company is implementing the most recent in automotive, robotics and renewable energy to design a symmetrical, bi-directional, zero-emission vehicle from the ground up to solve the specific challenges of autonomous liberty.

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