Business

Media Gushes Over Elon Musk’s Efficiency After Tesla Misses A Huge Deadline

Axios praised the high efficiency habits of Tesla’s Elon Musk Tuesday, even after the tech entrepreneur announced the electric vehicle company was going to badly miss another crucial production deadline.

David Schools, an Axios contributor, rattled off a list in an post Tuesday detailing the highly efficient habits that have allowed Musk to monopolize the electric vehicle marker. Schools made his list on the same day Musk failed to deliver on a significant promise to investors.

“Don’t skimp on sleep. Asleep by 1a.m., Musk sleeps a healthy 6-6.5 hours a night, otherwise he feels ‘grumpy,'” Schools wrote before noting the “hyper-efficient meetings” Musk conducts at Tesla’s California headquarters.

“In the middle of the meeting, Elon said to a quiet meeting member: You haven’t said anything. Why are you in here?” Schools wrote, referring to a conversation that one Tesla employee reportedly had with another worker.

Musk’s curt response to the employee’s lack of conversation shows that the Tesla CEO places a high value on meetings that have a “clear and distinct purpose,” according to Schools, who Axios describes as an entrepreneurial expert.

Yet with Musk’s efficient habits might not be enough to save Tesla, which has been plagued by missed production and delivery projections.

Tesla built 260 Model 3s between July and September of this year, for instance, which is a problem, considering the Silicon Valley predicted in August that it would produce more than 1,500 before the end of the fourth quarter.

Musk delivered only 220 Model 3s during the fourth quarter, all of which went exclusively to employees and investors and fall well below the 1,300 that analysts surveyed by FactSet expected on average. Total orders for Tesla’s Model 3 tumbled earlier this year to 455,000 from a high of 518,000.

Production on the highly touted vehicle was expected to expand from 100 cars in August to 1,500 in September. Musk plans to eventually build 20,000 cars per month – Tesla will have to ramp up production dramatically if it hopes to hit that mark in December.

Tesla has missed deliver marks on its other stable of electric vehicles. The company failed to hit its quarterly delivery mark in July of 2016 by more than 3,000 vehicles.

That year’s deliveries were 15 percent less than forecast and were even lower than the first quarter of this year. Tesla managed to sell only 14,370 cars, down from the 17,000 it expected to sell, according to a July letter sent to shareholders.

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