Monday, November 29

Tesla sinks from Musk’s ordeal

The Tesla shares on the German stock market have registered falls of 9 percent at the pre-opening after Elon Musk asked on twitter if he would have to sell 10 percent of his shares in the company.

Musk, known for his verbiage, especially on social media, launched a poll this Sunday in which he asked Twitter users if he would have to sell this participation.

The result was yes, which would force him to sell shares valued at about $ 21 billion. Musk has a total of 170.5 million shares of Tesla.

Most users opted to sell shares

More of 3.5 million users of the social network have participated in the survey, with 57 percent proposing that it effectively sell a tenth of its shareholding and the rest against it, after ensuring that it would comply with the results “whatever they may be.”

Behind this decision, there is the controversy about the rich who hoard unrealized gains to avoid paying taxes, such as packages of stocks valued in millions of dollars.

To justify yourself, Musk explained that he does not receive “a cash salary or bonus from anywhere”: “I only have shares, therefore my only way to pay taxes personally is to sell shares,” he said.

Tesla shares have performed well

The Tesla shares have risen 95 percent on the German stock market since the beginning of the year, while in your country of origin, in Wall Street, the gains are also relevant: 83 percent.

For the stock to continue higher, Tesla must comply the goal of producing one million cars a year.

Although it has not yet reached it, the capacity of its factory would allow it to fulfill it, since it is able to manufacture 19,000 vehicles a week.

New vehicle production capacity

According to the results report, the Shanghai Gigafactory is currently the strongest of all that Tesla has around the world.

With a production capacity of more than 450,000 units alone, it almost matches the production data of the California plants.

Added to this is the opening of the Berlin plant, although mass production has not yet begun. It is expected to do so in the coming weeks.

During the months of July, August and September have produced a total of 237,823 vehicles, which is 64 percent more than the same date last year.

So far this year, the production is 624,582 units.

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