Elon Musk Says Tesla 'Dropped The Ball' With This Decision In 2020

Tesla Inc TSLA CEO Elon Musk said on Wednesday that the electric vehicle maker’s decision to pause Model X production over a year ago was a mistake and an ‘idiotic’ thing to do.

What Happened: Musk was responding to a post on the microblogging site Twitter that criticized the Austin, Texas-based Tesla’s refreshed Model X rollout plan, calling it “horrible” and devoid of “communication to customers.”

The billionaire entrepreneur said Tesla “dropped the ball badly” on Model X’s production ramp-up. Musk added that it was “idiotic to stop production” of the old Model X in Dec 2020 when there was still “plenty of demand!”

When asked for a timeline on the production ramp for the refreshed Model X, Musk did not provide any further details but said in a separate tweet that the luxury crossover is an “extremely difficult” and the “most complex" passenger car ever and that the interior trim is the only limiting factor.

See Also: Tesla Is Under NHTSA Scrutiny for 'Phantom Braking' Issues At High Speeds

Why It Matters: The latest comments from Musk came in response to his close followers and fans on Twitter — who sought to dismiss the perception that Tesla fans are unable to criticize the company.

The Musk-led electric vehicle maker, in December 2020, stopped production of the Model S and Model X electric cars for updates but Tesla continued accepting new orders.

The EV maker produced 24,390 Model S and X in 2021, a drop of 55.4% over 2020. Including its best-selling models, Tesla produced a total of 930,422 EVs last year. 

Price Action: Tesla shares closed 1.08% higher at $932 a share on Wednesday.

Photo: Courtesy of User3204 via Wikimedia

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsRetail SalesTechelectric vehiclesEVsTesla Model X
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!