Tesla erupts in chaos after senior executives leave, Musk tokes up

Tesla erupts in chaos after senior executives leave, Musk tokes up

Tesla erupts in chaos after senior executives leave, Musk tokes up

The departures came after CEO Elon Musk gave a wide-ranging, almost three-hour interview to podcast host Joe Rogan and addressed topics ranging from his job at Tesla to the the end of the world.

The latest guest on the popular Joe Rogan Experience podcast, Musk talked to the former Fear Factor host-turned-libertarian media star for three hours, touching on subjects from stockholder expectations to electric jets.

"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 on Friday in a statement included in a filling with the US Securities and Exchange Commission.

"You kind of have to be optimistic about the future", said Musk, the head of the private rocket company SpaceX as well as Tesla. The show took place in California, where recreational marijuana consumption is legal. Employees at both its Fremont, California, vehicle factory and Reno, Nevada, battery Gigafactory, have been living through what Musk has called "production hell", working to ramp up production of the company's critical Model 3 sedan. "Yeah, I think I tried one once", he said, when it was confirmed that it was indeed a cigarette containing marijuana and Rogan asked if he had ever used before.

Some observers have said Tesla could be helped with a strong number-two executives, but Friday's departures create additional gaps in Tesla's ranks. Tesla's stock is down more than six percent to $262, the lowest level since April.

Shares of Tesla Inc.

Prominent short-seller Andrew Left has sued Tesla and Musk, saying in his proposed class-action complaint on Thursday that Musk's issuance of materially false and misleading information related to his abandoned plan harmed both short-sellers and those hoping the stock would rise. This followed a report by Bloomberg on Friday that Gabrielle Toledano, head of human resources, would not return to Tesla after a leave of absence. While Musk deleted the original tweets, BBC News reports Musk appeared to renew the allegation in an August 28 tweet.


Musk stunned investors a month back with tweets saying he had funding to take the company private for $420 per share, which many thought was a reference to weed.

Tesla has long struggled with high turnover involving its senior executives, and its finance team in particular has gone through a period of significant tumult.

He continued, "As a result, this caused me to reconsider my future".

Tesla shares sank 6.3 to close at $263.24 after the latest events that heightened concerns over Musk's erratic management style at the electric carmaker.

The executive has had a few tough months in the news, culminating in a failed attempt to take Tesla public that led to a Securities and Exchange Commission investigation.

"It's time for Tesla and Elon Musk to grow up", Michelle Krebs, executive analyst at Autotrader, said Friday. "Tesla 1st, 2nd & 3rd in August sales", Musk tweeted.

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