Musk and Tesla first had issues with the SEC in 2018, when Musk tweeted claims to take Tesla private 🔐
The tweets were “false and misleading,” so Musk stepped down as Chairman for three years and was fined $20 million 🤑
Tesla was great at selling cars but struggled to deliver them.
In 2017 after the launch of the Model 3, only 220k out of 400k cars were delivered 📦
In 2018 and throughout the rest of the pandemic, Tesla’s other models suffered from delays since computer chip technology was hard to come by 🍪
The stock plummeted as investors and customers claimed that Tesla ‘overpromised’ 😭
Once customers finally got their cars, a new owner and even Musk admitted that interior quality was lacking 👀
Leaks, poor seating, and more issues spread across Reddit and the press cycle.
In 2021, Tesla recalled nearly 500,000 cars over eight separate recalls for safety issues 🤕
Customers today still complain about the slow turnaround at service centers, steering wheel failure, expensive maintenance, and bugs during cold weather 🥶
Despite the challenges, in 2021 Tesla reported revenues of $53.8 billion, almost double from the previous year 🤑
Today, Tesla is a $500 BILLION company -- worth more than its next 5 competitors COMBINED!