On June 30, Beijing time, Tesla CEO Elon Musk said the company could break even in the second quarter despite a global global pop. Musk reportedly claimed in an updated email to employees on Monday that Tesla was nearing a break-even in the second quarter.
“Breaking even balance looks very urgent,” Musk said in an email entitled “Until the last few days.” Every car that everyone makes and delivers will have a significant impact. Please go all out to ensure victory! “
Last week, Musk called on employees to “go all out” in another, more “confusing” email.
Musk mentioned possible “good results” in that email. Reports now appear that Tesla is likely to break even in the second quarter.
Tesla’s break-even would be a big surprise for investors, as Wall Street now estimates the company’s quarterly loss of $1.45 per share.
When Tesla turned a profit last year, Musk said he believed the company could make a profit or even break even every quarter in the event of any major economic downturn.
Musk now seems to be suggesting that even with the new crown, Tesla may be resilient enough to make ends meet.
By contrast, Ford expects to lose $5 billion in the second quarter.
Tesla shares closed up 5.17 per cent on Monday, returning above $1,000 to $1009.35, giving it a market capitalisation of more than $180 billion.