Demand for Tesla electric vehicles does not waiver

The demand for Tesla electric vehicles did not waiver in the first quartered of 2020, despite the Coronavirus pandemic.

In fact the revenue jumped by 30% from last year effectively giving the company some of the first quarterly products on record.

It is only the third reported quarterly profit for the now fastest growing car manufacturer in the world.

This id very significant as prior to the first profit being recorded by the company in the third quarter of 2019, the company had been continuously operating at a loss.

However, Tesla has now gone on to say that the forced shutdown and limits on deliveries has clouded the forecast for the future.

“Frankly I would call it forcibly imprisoning people in their homes against all their constitutional rights…that’s my opinion,” Tesla boss Elon Musk, told investors on an earnings call on the 29 of April.

Elon Musk is one of many Americans opposed to the enforced lockdown measures,

“It will cause great harm, not just to Tesla but to many firms. While Tesla will weather the storm, there are many small companies that will not.

“And all of people’s – everything they’ve worked for their whole lives has been destroyed in real time.

“We’re going to have, and have many suppliers that are on super hard times, especially the small ones, and it’s causing a lot of strife to a lot of people.”

He we on to say that Tesla was “a bit worried about not being able to resume production in the Bay area”, and said this should be considered “a key risk”.

Why is this a key risk, well the company has only two car factories, one in Shanghai and one in Fremont, California.

He stressed that he does not mind if people want to stay at home for their own safety,. however he is concerned for those people who are currently being forced to lose their livelihoods due to the enforcement.

Tesla closed it’s factory at the last possible moment, and has since sent a letter to employees regarding their reduced wages.

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