Elon Musk Jumps On Twitter Saying Tesla Will Make Over 500,000 Cars This Year

Elon Musk has raised eyebrows following a pair of tweets containing important information about Tesla.

The first tweet, published on Sunday in response to claims that current Tesla models could jump in value due to high demand and limited supply, the outspoken chief executive said that Tesla will build more than half a million vehicles in 2019.

“There are 2.5B cars & trucks on Earth. Even replacing 1% of that fleet would require making 25M vehicles per year. Tesla will make over 500k cars in next 12 months, but that’s a mere 2% of 25M or 0.02% of global vehicle fleet. Car industry slow -> demand >> supply,” he wrote.

Musk’s tweet is similar to one which landed him in hot water with the U.S. Securities and Exchange Commission (SEC) back in February 20, Bloomberg reports.

At the time, Musk tweeted that Tesla would “make around 500k [cars] in 2019.” He later amended his statement saying “Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week.” The SEC asserted that Musk’s tweet was in defiance of a settlement he agreed to last year for tweets containing “material” information about Tesla to be reviewed by a board dedicated to overseeing his social media activity.

Lawyers for Musk asserted that his production-related tweet “was a shorthand gloss on topics that had already been covered in depth in company filings and an earnings call with analysts.”

A separate tweet published by Musk over the weekend came in response to reports that Panasonic was freezing plans to further extend battery capacity at Nevada’s Gigafactory 1 which it shares with Tesla. Musk specifically denied claims that Panasonic recently boosted battery cell production capacity at the plant to 35 gigawatt hours per year.

“Incorrect. Pana cell lines at Giga are only at ~24GWh/yr & have been a constraint on Model 3 output since July. No choice but to use other suppliers for Powerwall/Powerpack cells. Tesla won’t spend money on more capacity until existing lines get closer to 35GWh theoretical,” Musk’s tweet read.

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Opening image via Heisenberg Media/Wikimedia Commons

  • Mr. EP9

    Yeah, I’m calling BS on that. No way this tweet is going to come back to bite him.

  • Bash

    BS

  • Adilos Nave

    Twitter needs to go away and Musk needs to just shut up. Is it really that hard?

  • Jason Miller

    Just leave the guy alone. He’s answering questions that he’s being asked. He’s great at that, especially when it comes to SpaceX related things. People just need to find something else to cry about.

    • Mr. EP9

      He’s a public figure. When you make claims like these there will be people who will react with skepticism or demand that you prove it.

      • Jason Miller

        Well I guess we’ll find out at the end of the year, won’t we?

        • Jp

          Didn’t he said “in the next 12 months”? This is a different statement than “This Year” as this article implies.

          • Jason Miller

            Tomato Tomato. Nitpicking.

          • Sydromir

            Yah no, not nitpicking, “in 12 months” means with in a 12 month time frame. “This year” means with in the number of days left in the said year. If you say something will be done this year at the end of march, you have 9 months left to get it done, big difference.

      • Stephen G

        REALLY? I can think of a tangerine colored public figure with small hands that makes outrages claims and neither he or his supporters feel the need to prove anything whether it’s demanded or not. Or is Musk just held to a higher standard?

    • Rocket

      If he wanted to be left alone, he’d shut his mouth. He does this stuff intentionally to draw attention to himself and his company. “No such thing as bad publicity”, right?

      • Jason Miller

        He’s answering questions that he’s being asked. Plain and simple.

        • Rocket

          Show me where somebody asked him how many cars he’ll produce in the next 12 months.

          Twitter isn’t a forum for asking and answering serious questions. It’s for spouting off — something Musky has a talent for.

          • Jason Miller

            He used it to make a point, Mr Smarty Pants. It can be used for whatever people like. And there are far more people with a talent for spouting off (like Mr Cheeto in charge) that need to have theirs taken away.

          • Rocket

            He used it as an excuse to turn the conversation to an unrelated topic.

          • Jason Miller

            LOL, no.

          • Rocket

            So the conversation was about Tesla production?

            Don’t bother answering … anybody paying attention knows the answer is “no”.

          • Jason Miller

            He’s making an example. What don’t you get about that? People just throwing a hissy fit because they have nothing better to do. End of story.

          • Rocket

            Nobody’s buying it, pal. He’s doing what he does … garnering headlines. Give it a rest already.

          • Jason Miller

            Might as well, I’m talking to a brick wall. Nothing wrong with doing what he’s doing. People just trying to find something else to complain about or some way to take someone else’s money “just because”.

  • lagunas3ca

    Business is business. No different than Jeff Bezos issuing challenges to other retailers (Walmart) by throwing jabs, all the meanwhile dodging up to billions of dollars in taxes with simple loopholes.

  • Sovereignty

    If Tesla wants to compete they need to start looking at quality and customer service. The problems people are having with their cars on the forums are shocking: paint finish problems, rust, touchscreen failure, cars shutting down while driving, high delivery miles, blurry backup cameras, tail lights not working on delivery, etc.

    If the company doesn’t sort out these issues, then very few people will repeat buy when they want a new car. The established brands see repeat buyers. Those who have had a bad experience will not put themselves or their hard earned cash through the same experience.

    • Jason Miller

      In the span of maybe 5 miles yesterday while bumper to bumper in traffic, no less than 4 Model 3’s and 2 Model S’s cruised by me in the HOV lane. Seems to me they are doing just fine.

  • TB

    Yeah but…will people buy them enough to be profitable. Way too many quality issues being reported for too long now.

  • scjeff

    500k in the next 12 months (what Elon tweeted) is a lot different than what the headline says.

  • Daniela Wolf

    Next year Tesla will build way more than 2 million cars outselling Audi, BMW and MB!

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