From Breakingviews - Musk’s Twitter tilt comes at bad time for Tesla
All of this has taken its toll. Tesla has raised the price of the Model 3 multiple times. And earlier this month the companyits first quarter-over-quarter decline in vehicles produced since the initial outbreak of the pandemic in 2020.
Musk is already prone to distractions; the self-styled “Technoking” has said that his car company’s “most important product” in the near-term will be a humanoid robot called Optimus. Adding Twitter to his plate would put him on the hook for controversial decisions about freedom of speech, reinventing its business model and overhauling its poor governance – also long a weak spot at his companies. Tesla’s latest challenges require Musk’s full attention.
- Makers of electric vehicles face rapidly increasing prices for key raw materials and elevated shipping costs. Musk tweeted on April 8 that Tesla may have to directly mine and refine lithium, while industry peers have warned of shortages. Tesla's Shanghai factory has also experienced disruptions due to a Covid-19 outbreak. The company is set to report results after the U.S. market closes on April 20.Editing by Antony Currie and Sharon LamOpinions expressed are those of the author.
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