Tesla CEO Elon Musk urges workers to push as company looks to break even in Q2
Tesla may not pull another profit in the second quarter, but it sounds like Musk is doing everything he can to break even after coronavirus-related shutdowns.
As is the norm toward the end of each financial quarter, Tesla CEO Elon Musk called on workers to push more cars off the assembly line and deliver them to owners as Musk eyes a break-even scenario for the electric carmaker.
Reuters reported Monday after viewing an email Musk sent to workers that the CEO said "breaking even looks really tight" and he told workers "every car you build and deliver" makes a difference. Tesla shut down its manufacturing operations at its plant in Fremont, California, earlier this year amid the coronavirus pandemic, just as Model Y production started.
Previously, a leaked email from Musk allegedly hinted at difficulties ramping up Model Y production after the plant resumed operations.
Musk's urging isn't unusual. Tesla typically works hard to deliver more cars at the end of a quarter before it's set to report results. This time, it's likely more crucial than ever given the plant shutdown. According to data Reuters cited from Refinitiv, the automaker could deliver 74,000 in the second quarter, down from 88,400 cars in the first quarter. There've also been rumors that Model Y demand is weaker than expected, judging by some moves Tesla made in the past.
Tesla didn't immediately respond to a request for comment.
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