Musk defends relentless schedule as Tesla enters fateful week


After another dramatic week for Elon Musk, in which he bared his soul in a brutally honest interview with The New York Times, his acquaintance Arianna Huffington took the time to offer the Tesla CEO some advice.

Musk added that his electric auto company and Ford are the only two American automakers that have avoided bankruptcy.

He then added, in an apparent reference to his long hours at work: 'You think this is an option. After telling the New York Times that his job was taking a serious emotional toll on him, he spoke to YouTube personality Marques Brownlee, suggesting that it would take "maybe" three years to produce a $25,000 vehicle.

Tesla has marketed its top-of-the-line models that boast head-snapping acceleration as having "Insane" and "Ludicrous" modes.

"Tesla is revolutionary because it's all about how we can most efficiently use energy, which holds the potential to change the world", she wrote, adding: "You're demonstrating a wildly outdated, anti-scientific and horribly inefficient way of using human energy".

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Brinkman, who had hiked his price target on Tesla to US$308 after Musk's initial take-private tweet on August 7, dropped it back to the earlier level of US$195.

Shares of the electric automaker fell by as much as 5.6 percent in early trading Monday ー falling below $300 at one point before rebounding after trading opened ー following a bearish note from JPMorgan that cast more doubt on Musk's now-infamous "funding secured" tweet.

While Tesla has yet to sell its baseline $35,000 Model 3, relying on costlier models to sustain operations, Musk expressed the goal of ramping up production and lowering design and technology costs to reach a cost of $25,000.

He said he had most recently met with the Saudis on July 31 and left that meeting "with no question that a deal with the. fund could be closed, and that it was just a matter of getting the process moving". Last week, the Securities and Exchange Commission sent the company a subpoena regarding the statement.

Huffington's attempted intervention comes at a time when she's been campaigning in support of the benefits of sleep. In the interview he revealed that he was taking sleeping pills. But in April 2017, chief technology officer Peter Rawlinson said the company didn't have the money in place to start construction and needed to complete a fourth round of fundraising, known as Series D. Neither PIF nor Lucid Motors immediately returned requests for comment.