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Tesla Has A Bold Plan To Prove Haters And Greedy Short-Sellers Wrong

Industry News / 22 Comments

We'll know fairly soon whether or not it works.

Once again, Tesla is experiencing Model 3 production issues and, also once again, the usual crowd of haters and critics in general are out in full force. But this time Tesla is fighting back. According to Bloomberg News, it has a bold plan for doing so: a small army of volunteers of Model S and Model X line workers has been sought to help out their Model 3 brethren. Internal memos from last week reveal Tesla wants to prove the "haters" and those who are betting against the company wrong by upping Model 3 production to 300 units per day.

Tesla engineer chief Doug Field said doing so would be an "incredible victory" against those short-sellers and other critics who doubt the company's ability to mass produce affordable electric vehicles. "I find that personally insulting, and you should too," Field wrote in the email, dated March 23. "Let's make them regret ever betting against us. You will prove a bunch of haters wrong." Lately, investors and market analysts have been doubting Tesla's ability to get Model 3 production where it needs to be to help generate profit. Tesla spent billions developing the Model 3 and it's struggled to overcome production "bottlenecks" for months.

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More recently, Tesla shares fell 22 percent this month, the biggest one-month drop to date since going public. A Model S recall late last week to fix a power-steering component, caused the stock to fall just after it rose. With Model S and Model X production ahead of schedule, building for both was suspended last Thursday and Friday in order to allow those volunteers to work the Model 3 line instead. As of now, Tesla is building more than 200 Model 3s a day, so given the extra help, boosting that figure to 300 could be doable.