Elon Musk: New York Times controversy cost Tesla around $100 million
Tesla CEO Elon Musk sat down with Betty Liu of Bloomberg TV to discuss the Model S electric car, how production is going, what are Tesla's goals for the near future, and what the fallout from the New York Times controversy has been.
The headlines all focus on the impact on Tesla of its battle against the New York Times, but what will truly matter in the long-run - and thus what is truly important to focus on - is Tesla's plans to keep ramping up Model S production to 500 units per week, to expand distribution first in Europe and then in Asia, and to focus on become more efficient at producing vehicles so that it can expand its profit margins (essential if they are to stay in business and then move on to a third platform that will be more affordable for the rest of us).
Currently, Tesla's stock price is hovering around 34.4, while on the last trading day before the NYT piece was published, it was closer to 39.4. That doesn't mean that all the decline is due to it, but we can probably assume that some of it is. Of course, the market is fickle and all this could prove very temporary, especially if Tesla keeps executing well.