Tesla Inc's outspoken CEO Elon Musk on Wednesday called sweeping U.S. stay-at-home restrictions to curtail the coronavirus outbreak 'fascist' as the electric carmaker posted its third quarterly profit in a row.
) outspoken CEO Elon Musk on Wednesday called sweeping U.S. stay-at-home restrictions to curtail the coronavirus outbreak “fascist” as the electric carmaker posted its third quarterly profit in a row.
How Tesla fares in the current quarter and the remainder of the year will be an important test of the company’s durability. If Tesla can limit its losses, or even continue its profit streak and outperform legacy automakers, it will be in a stronger position to take sales from rivals weakened by the coronavirus disruption.
“To say that they cannot leave their house and they will be arrested if they do, this is fascist. This is not democratic, this is not freedom. Give people back their goddamn freedom!” Musk said that while other carmakers were cutting back, Telsa was ramping up investment. He said Tesla might announce the location of a new U.S. factory in one to three months.
Tesla on Wednesday said it expected production at its vehicle factories in Fremont, California and in Shanghai, China to ramp up gradually through the second quarter.
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