Tesla Inc. was more cautious Wednesday in both its shareholder letter and its conference call, its first since Chief Executive Elon Musk bowed out of the quarterly earnings show, and it may have cost the stock.
Tesla also removed a clause that had led investors to believe 2021 would be an outlier growth year, when it stated previously: “In some years it may grow faster, which we expect to be the case in 2021.” When asked by investors what the company’s goal was for production capacity, Kirkhorn said Tesla seeks to increase growth by 50%, but wisely couched that goal in a way that Musk rarely does.
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