Tesla: shares recover after update, management changes
(CercleFinance.com) - After falling by 9% over the past week, Tesla shares rebounded on Monday as the Californian electric carmaker provided a company update in which Elon Musk unveiled a number of management changes and promised that the company was about to have "the most amazing quarter" in its history.
In a email sent to employees, Musk said the company is now generating the most "mind-blowing growth" in the history of the automotive industry.
"Even the Ford Model T, which held the world record for the fastest growing car in history, didn't grow as fast in sales or production as the Model 3," the founder and CEO said.
Amongst the most signicant management changes, there is the promotion of Jerome Guillen to the position of President of Automotive, and who will report directly to Musk.
In his new role, the Frenchman will oversee all automotive operations and program management, as well as coordinate the extensive automotive supply chain.
Tesla shares were up 5.6% at 278 dollars in early trading on Wall Street.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In a email sent to employees, Musk said the company is now generating the most "mind-blowing growth" in the history of the automotive industry.
"Even the Ford Model T, which held the world record for the fastest growing car in history, didn't grow as fast in sales or production as the Model 3," the founder and CEO said.
Amongst the most signicant management changes, there is the promotion of Jerome Guillen to the position of President of Automotive, and who will report directly to Musk.
In his new role, the Frenchman will oversee all automotive operations and program management, as well as coordinate the extensive automotive supply chain.
Tesla shares were up 5.6% at 278 dollars in early trading on Wall Street.
Copyright (c) 2018 CercleFinance.com. All rights reserved.