Elon Musk says Tesla planning ‘thorough reorganisation’

Tesla’s told employees on Monday the company is undergoing a “thorough reorganisation”, as it contends with questions over its production schedule and two crashes last week involving its electric, self-driving cars.

Elon Musk said in an email that, as part of the reorganisation it was "flattening the management structure to improve communication, combining functions where sensible and trimming activities that are not vital to the success of our mission" in an email that was confirmed by Tesla after being disclosed earlier by the Wall Street Journal.

Earnings call

Mr Musk said on a May 2nd earnings call that the company was “going to conduct sort of a reorganisation restructuring of the company . . . this month and make sure we’re well set up to achieve that goal”.

Tesla will still rapidly hire critical positions “to support the Model 3 production ramp and future product development,” Mr Musk said in the email.

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Tesla faces a variety of issues.

Investors gave a rare rebuke to Mr Musk after he cut off analysts on the earnings call asking about profit potential, sending shares down 5 per cent despite promises that production of the troubled Model 3 was on track.

– Reuters