Tesla went from “production hell” to “delivery logistics hell,” but it appears the company is doing something about the latter.
According to a lengthy Securities and Exchange Commission filing noticed by CNBC, Tesla is set to give California’s Central Valley Auto Transport up to 49,967 shares of common stock in exchange for the “acquisition of certain car-hauling trucks and trailers.” The filing doesn’t say how many car haulers the company is looking to purchase, but the publication noted the stock had a value of $13.8 (£10.5 / €12.2) million on February 12th.
Neither company would respond to CNBC’s request for comment, but Central Valley Auto Transport’s website says they have a “diversified fleet of 100 trucks [and] 1-9 car carriers.” The company also noted all their trucks are equipped with GPS tracking systems which enable them to be monitored and “dispatched efficiently.”
It’s believed the trucks and car haulers will be used to help alleviate Tesla’s highly publicized delivery problems. The Shorty Air Force, which consists of people shorting Tesla stock, has documented thousands of Tesla vehicles waiting to be delivered and customers have been pretty vocal about repeated delivery delays.
While Tesla appears to be tackling the issue, the company admitted “there remains room for more improvement” in regards to their delivery and logistics systems. As part of Tesla’s Fourth Quarter and Full Year 2018 Update, the automaker said “We have purchased and are continuing to purchase our own car-hauling truck capacity for vehicle shipments.” Tesla said this gives them “far more control” over deliveries while also “lowering costs and improving customer satisfaction.”