Tesla's Elon Musk Rants Again, Calls Lockdowns Forcible Imprisonment And 'Fascist'

Tesla shares spike as automaker delivers third-consecutive profitable quarter

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Elon Musk went on a profane rant during another emotive Tesla Inc. earnings call, excoriating stay-at-home orders that are putting the electric-car maker's red-hot run at risk.

He condemned shelter in place orders, "or as we call it forcibly imprisoning people in their homes, against all their constitutional rights ... and breaking people's freedoms in ways that are awful and wrong, and not why people came to America or built this country.". Tesla's stock price was trading up by 4% today before the market closed, and it shot up from there. Musk said on a quarterly earnings call with analysts.

Although some "die hards" will stick with the brand, Tesla faces problems including cheaper gas and a recession that is likely to cut into pocketbooks, said Karl Brauer, an auto industry analyst who serves as executive publisher at Cox Automotive.

As other car-makers move to reopen their United States factories, it's unclear when Tesla will be able to restart production in Fremont.

Part of the reason for Tesla's production ramp up is better efficiencies at its assembly plant in California, the company said.

Tesla earlier this month said that it delivered 88,400 vehicles in the quarter, beating analyst expectations by almost 9,000 cars. Meanwhile, the release of Tesla Semi has also been delayed until 2021. "Musk's comments come after a torrent of criticism for the comments he made on Tuesday night on Twitter, in which the billionaire CEO echoed President Trump in capital letters:Free America now".

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The Daily Caller wrote that Musk has been "lending his voice to many others who have questioned the severity and necessity of continued lockdown measures as coronavirus rates decline across most of the country and deaths fall well below initial dire predictions".

The company says that the Model Y production ramp up in Shanghai and eventually Berlin are two of its most important near term projects.

He later said he was repurposing SpaceX and Tesla facilities in order to build ventilators to treat coronavirus patients, but it is now unclear how many of these have been delivered to and used by hospitals.

Tesla began delivering its Model Y crossover in March, a muted debut that coincided with widespread social distancing and shelter-in-place orders aimed at slowing the spread of the virus.

"Although the rest of the world is essentially shut down and in lockdown mode, strong Model 3 demand out of China remains a ray of light for Tesla in a dark global macro", the brokerage said. That was aided by production at its new factory in Shanghai.

Alameda County, where the factory is based, on Wednesday extended stay-at-home orders until May 31 and vehicle manufacturing is not considered an essential business that is exempt. "But saying they can't leave their house and that they will be arrested if they do - that's fascist".

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