After SEC storm, Tesla and Elon Musk find brace in potential profit


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After SEC storm, Tesla and Elon Musk find brace in potential profit

After having faced some tough days, Tesla and its beleaguered co-founder Elon Musk finally have some reason to be cheerful about. In a couple of emails sent to Tesla employees on Friday, 28th September and Sunday, 30th September, Musk shared that the company is close to making a profit after years of heavy cash investment.

Musk's emails come during the end of the third quarter of the year (July-September) amidst the report that the production of Tesla's Model 3 cars has been over the assigned benchmark of 50,000-55,000 units for the quarter ending in September.

According to statistics released by Electrek, the total number of units produced in the third quarter was over 77,000. The first email sent by Musk stated, "Ignore all distractions. One more hardcore weekend and we will all be victorious.

Thanks for being amazing." The second mail noted, "We are very close to achieving profitability and proving the naysayers wrong, but to be certain, we must execute really well tomorrow (Sunday). If we go all out tomorrow, we will achieve an epic victory beyond all expectations.

Go, Tesla!! Thanks for all your hard work." Both emails were furnished by the CNBC. Meanwhile, following his agreement with the SEC, Musk will be stepping down as the Tesla chairman and an independent chairperson will be appointed to govern the company's board of directors. In addition, both Musk and Tesla will be paying a fine of $20 million each to the SEC.