In an email sent to staff on Wednesday, Tesla Inc Chief Executive Elon Musk told employees that they should not be “bothered by stock market craziness” after the company’s shares fell nearly 70% this year on jitters over softening demand for electric vehicles and Musk’s distraction with running Twitter.
Musk said he believes that in the near future, Tesla will be the most valuable company on earth.
He also persuaded employees to ramp up deliveries at the end of this quarter, after the automaker offered discounts on its vehicles in the United States and China.
“Please go all out for the next few days and volunteer to help deliver if at all possible. It will make a real difference!” he said in the email.
According to Refinitiv data, analysts expect the automaker to deliver 442,452 vehicles in the fourth quarter.
Tesla’s plummeting share price has hurt the value of shares owned by the EV maker’s employees. Tesla has offered stock compensation for most employees including factory workers.
On Wednesday, the company’s shares rebounded following an 11% slump in the previous session on a Reuters report that the automaker planned to run a reduced production schedule in January at its Shanghai plant. The news sparked worries of a drop in demand in the world’s biggest car market.
“Btw, don’t be too bothered by stock market craziness. As we demonstrate continued excellent performance, the market will recognize that,” he said.
“Long-term, I believe very much that Tesla will be the most valuable company on Earth!”
