Musk says Tesla now in "delivery logistics hell"
(Reuters) - The focus on Tesla Inc's battle to ramp up production swung to concerns over logistics and distribution on Monday, after Chief Executive Officer Elon Musk acknowledged there were delivery bottlenecks and promised to swiftly iron out the delays.
(Reuters) - The focus on Tesla Inc's
"Sorry, we've gone from production hell to delivery logistics hell, but this problem is far more tractable," Musk said in a tweet on Sunday, in response to a customer complaint on delivery delay.
"We're making rapid progress. Should be solved shortly."
The 47-year-old billionaire, who earlier this month faced investor ire over smoking marijuana on a live web show, has indicated in the past that Tesla's customers may face a longer response time because of a significant increase in vehicle delivery volume in North America.
Tesla's ability to deliver on production targets has weighed on its stock in the past, and the company has been working to iron out bumps after failing to meet production targets for its Model 3 sedans.
The company has eliminated some colour options for its cars to streamline operations to ramp up production.
Musk also tweeted on Sunday that Tesla would bring most collision repairs in-house, saying owners were experiencing excessive wait times at body shops.
Separately, aspiring rival Lucid Motors announced a $1 billion investment on Monday from Saudi Arabian sovereign wealth fund PIF.
Earlier this year, PIF built a stake of just under 5 percent in Tesla by snapping up shares in the open market, rather than acquiring newly issued shares.
Tesla's shares were down nearly 1 percent at $292.76.
(Reporting by Manas Mishra and Munsif Vengattil in Bengaluru; Editing by Gopakumar Warrier)
This story has not been edited by Firstpost staff and is generated by auto-feed.
By Robin Emmott and John Irish | BRUSSELS/PARIS BRUSSELS/PARIS France and Germany will agree to a U.S. plan for NATO to take a bigger role in the fight against Islamic militants at a meeting with President Donald Trump on Thursday, but insist the move is purely symbolic, four senior European diplomats said.The decision to allow the North Atlantic Treaty Organization to join the coalition against Islamic State in Syria and Iraq follows weeks of pressure on the two allies, who are wary of NATO confronting Russia in Syria and of alienating Arab countries who see NATO as pushing a pro-Western agenda."NATO as an institution will join the coalition," said one senior diplomat involved in the discussions. "The question is whether this just a symbolic gesture to the United States
BEIJING Chinese President Xi Jinping on Wednesday called for greater efforts to make the country's navy a world class one, strong in operations on, below and above the surface, as it steps up its ability to project power far from its shores.China's navy has taken an increasingly prominent role in recent months, with a rising star admiral taking command, its first aircraft carrier sailing around self-ruled Taiwan and a new aircraft carrier launched last month.With President Donald Trump promising a US shipbuilding spree and unnerving Beijing with his unpredictable approach on hot button issues including Taiwan and the South and East China Seas, China is pushing to narrow the gap with the U.S. Navy.Inspecting navy headquarters, Xi said the navy should "aim for the top ranks in the world", the Defence Ministry said in a statement about his visit."Building a strong and modern navy is an important mark of a top ranking global military," the ministry paraphrased Xi as saying.