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However, Elon Musk, the company's CEO has indicated that the hiring spree is a clear show of the company's sign of confidence in its operations as well as the ability to increase its production by the end of June so as to meet the growing demand for Model 3, the company's entry-level electric vehicle.

Tesla has predicted high sales and strong cash flow in the third quarter. Try not to let the sheer brilliance of Tesla's early accomplishments blind you-the company is now at a different stage of its life cycle. "That's our focus right now".

Tesla did publish exact Model 3 production numbers. Shares were down over 5% in after-hours trading as of this writing.

So, what I want to answer for readers today, is whether Elon Musk and company has shaken off Tesla's share-price lethargy and will cross $400 before the end of the year or is the brilliant CEO about to get his comeuppance leading to a $200 stock price by year's end? He then allowed multiple questions from a person via YouTube.

Tesla reported end-of-quarter cash balance of $2.7 billion. Tesla said it produced 4,750 Model 3 cars during the two weeks prior to its scheduled downtime in April. Out of 20 analysts polled in the last 3 months, 5 rate a Buy on TSLA stock, 9 maintain a Hold, while 6 issue a Sell on the stock. At this point, if efficiency is just that good, Tesla should maybe consider reducing the size of the pack and increasing the load capacity, which can also have a great impact on the economics of trucking.

One of the more interesting things discussed on the call was Musk's vision for Tesla as it relates to full autonomy.

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In its letter, Tesla said Model 3 production hit 2,270 per week at the end of April, the third straight week that it hit over 2,000.

The move may prove to be "a mistake" given the importance of the Model 3 build out, said Jonas.

During the call, Musk also said that they now have about 2,000 reservations with deposits for Tesla Semi, but he points out that they haven't really been selling them and those reservations have been organic from the launch and subsequent coverage. This may be a hint that ties into another piece of information that he gave later in the call that all future Gigafactory sites would have vehicle production facilities built in, and that the company was working with the Chinese government on securing a location there. Excluding one-time expenses such as stock-based compensation, the company lost $3.35 per share. Revenue grew by 26 per cent from a year ago to $US3.4 billion. Tesla's second quarter results will be under enormous pressure after the CEO admitted that the company depended heavily on automation. Tesla posted earnings of ($1.33) per share during the same quarter last year, which indicates a negative year over year growth rate of 145.1%.

Tesla's capital expenditures declined in the quarter and the company cut its spending forecasts for 2018, saying it would spend less than $3 billion. The company also says automation has improved safety in its facilities, an issue that has dogged the company in recent months.

Interesting to get an update on Musk's expected specs for Tesla Semi, but I was particularly interested in the comments about a potential battery breakthrough needed to enable those specs.

Despite my colleagues' assertions over at Cleantechnica and on these very pages, Tesla's model 3 is not "whooping gasmobile a**".


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