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Oracle's founder, CTO, and executive chairman, Larry Ellison, defended Tesla president, Elon Musk, at a meeting with analysts on Thursday, and said Tesla was his second largest investment , reports Bloomberg. Ellison's comments come a day after Tesla released a surprise profit in the third quarter, exceeding analysts' expectations.
"Tesla has a lot of potential," said Ellison.
Ellison reportedly criticized Musk's media coverage, which has sparked controversy in recent months by accusing pedophilia of an unsupported accusation against a British diver who criticized him, smoking marijuana during an interview. with Joe Rogan the interview was filmed) and sending tweets about the possibility of taking Tesla privately, which led to a lawsuit by the Securities and Exchange Commission. Ellison reportedly defended Musk, citing the achievements of rocket company Spacek, which has built rockets that can land on platforms in the ocean.
"He is laying rockets on rafts of robot drones in the ocean," Ellison was quoted as saying. "And you say that he does not know what he's doing." "Well, who else is launching rockets?" Have you ever landed a rocket on a drone robot? -you?"
Ellison reportedly acknowledged some of Tesla's manufacturing difficulties, but linked them to Panasonic, which manufactures battery cells for Tesla's vehicles.
"Are there any problems? Yes, there are huge problems with Panasonic because you are trying to run these batteries and your main cell manufacturer is having problems," Ellison said.
Yoshio Ito, Panasonic's automotive manager, told Bloomberg in September that Panasonic was responsible for the bottlenecks at Tesla's Gigafactory in Sparks, Nevada, where the automaker manufactures batteries and batteries. 39; drive.
"The bottleneck for the production of Model 3 lies in our batteries," said Ito. "They just want us to do as much as we can."
The production issues that Tesla has experienced since the launch of the Model 3 sedan in July 2017 have also been attributed to excessive automation of the Fremont factory in California, where it assembles its vehicles. Musk acknowledged in April that Tesla had been attempting to automate too many production jobs at the Fremont factory and had said it would use more human workers for the process. assembly.
Tesla announced Wednesday that it has recorded the most profitable quarter in its history. The builder has exceeded Wall Street's expectations by posting adjusted earnings of $ 2.90 per share for a $ 6.8 billion turnover. Analysts expected an adjusted profit of -0.15 USD per share for a turnover of 6.315 billion USD. The automaker also generated positive cash flow in the quarter, with free cash flow of $ 881 million.
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