Elon Musk said he would participate in Tesla’s fourth quarter earnings call — to take place in January of 2022 — following his statement, made in July, that he would not be on them anymore “unless there’s something really important that I need to say.”
“Oh man, this year has been such a supply chain nightmare & it’s not over! I will provide an updated product roadmap on next earnings call,” Musk tweeted.
Oh man, this year has been such a supply chain nightmare & it’s not over!
I will provide an updated product roadmap on next earnings call.
— Elon Musk (@elonmusk) November 29, 2021
In August, Musk called out two of the world’s largest auto chip suppliers, saying on Twitter that their supply chains were “problematic.”
“Tesla makes cars for export in first half of quarter & for local market in second half. As publicly disclosed, we are operating under extreme supply chain limitations regarding certain ‘standard’ automotive chips. Most problematic by far are Renesas & Bosch,” Musk tweeted at the time.
Musk also had addressed the supply chain issues in July, during the last call investor call he participated in, noting that “while we’re making cars at full speed, the global chip shortage situation remains quite serious. For the rest of this year, our growth rate will be determined by the slowest part in our supply chain which is a — there’s a wide range of chips that are at various times the slowest part in the supply chain,” according to the transcript of the call.
Despite global supply chain issues which have slowed the efforts of several automakers, in October Tesla announced it had delivered 241,300 vehicles in the third quarter. This figure exceeded analysts’ more conservative expectations.
According to Barron’s, Musk’s return to the earnings call could foreshadow great news for the stock. “At a minimum, Musk will probably update investors about the timing for the company’s pickup truck dubbed, of course, Cybertruck,” Barron’s reports, adding that bigger news would be an update about a new model — an electric vehicle that starts at around $25,000.
Dev Randhawa, Chairman and CEO of Fission 3.0 Corp., told GOBankingRates that “if he is going to be on the call, there is a strong chance he has positive news to share. He also sold billions of stocks so he might talk about that as well. Whenever insiders sell, it’s a red flag and it’s seen as bearish, so he may have to reassure people as well. Overall, all is well with Tesla!”
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