Tesla cuts color options to streamline production

Yolanda Curtis
September 15, 2018

According to the Daily Mail, two of the seven custom color for its cars will be removed from the customization options as the electric vehicle maker bids its way for a faster, more streamlined production.

The stock closed up 8.5 percent on Monday after two brokerages said the company could meet its production targets for the second half of the year. The electric vehicle manufacturer has warned customers that they have a small window of opportunity to order the colors before its too late. The former CFO of Seagate, stated in a letter that "since I joined Tesla on August 6, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations", Morton said in the filing.

But he wasn't joking or trying to bloat Tesla fans' confidence in the company. That strategy paid off as Tesla built a huge lead in the electric auto race, although that position is under assault from intense competition by rival manufacturers such as Mercedes-Benz and Ford.

Toledano, one of the top executives at the company, reports directly to Musk.

According to some tech industry analysts, Tesla's move to ditch paint options will just be the first of the many measures that the company is willing to implement in order for it to achieve a more simplified production process.

It's no secret that Tesla is experiencing a few growing pains while it ramps up production of its newest sedan, the Model 3. However, the firm downgraded its Tesla rating to neutral from buy, noting that some of Musk's recent behavior could weaken consumer confidence in the brand.

Tesla's Gigafactory, its lithium-ion battery-production facility, "creates a significant barrier for competition and manufacturing capability" that should benefit Tesla over the long term, Kallo and Katter said.

And in case you missed it: during his marijuana episode on TV, Musk said he would soon announce a new product that can make anyone superhuman.

The financial challenge has been exacerbated by Musk's shenanigans.

A Tesla spokesperson referred to previous comments in which Musk said Tesla expects to turn a profit in the third and fourth quarters. "We would definitely honor that obligation, and we would do so right now if it were possible", Musk said.

Other reports by iNewsToday