Tesla Inc. Chief Executive Elon Musk is “unhappy” with his company’s progress in developing fully autonomous vehicles, and at least 11 members of the...
Tesla Inc. Chief Executive Elon Musk is “unhappy” with his company’s progress in developing fully autonomous vehicles, and at least 11 members of the software team have left in the past few months, according to a Tuesday report on The Information that cited one current and one former Tesla employee with knowledge of the matter.
Musk is also upset that some employees have said they can’t meet the timelines Musk has set for Tesla’s TSLA, +0.04% developing technology, the report said.Musk, who over the weekend tweeted about a possible price increase for future fully autonomous Teslas, has set a goal of having a million Tesla “robotaxis” on the road by the end of 2020 in some locations, among other plans for fully self-driving cars.
Tesla shares fell 0.9% on Tuesday and are down 31% for the year, contrasting with gains of 19% and 15% for the S&P 500 index SPX, +0.00% and the Dow Jones Industrial Average DJIA, -0.23% this year. The stock has gained more than 2% this month, however, outperforming the broader market, thanks in part to news last week the company had beat Wall Street expectations for sales. Tesla delivered 95,200 vehicles in the second quarter, a record for the company.
Claudia Assis Claudia Assis is a San Francisco-based reporter for MarketWatch. Follow her on Twitter @ClaudiaAssisMW.
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