Tesla CEO Musk raises alarm on interest rates, hesitates on Mexico factory
© Reuters. FILE PHOTO: Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. REUTERS/Aly Song/File Photo
-Tesla CEO Elon Musk said on Wednesday that he was concerned about the impact of high interest rates on car buyers, adding the electric vehicle maker was hesitating on its plans for a factory in Mexico as it gauges the economic outlook. After the company missed Wall Street expectations on third-quarter gross margin, profit and revenue, Musk said he was cautious about going"full tilt" on the Mexico factory.
"If the macroeconomic conditions are stormy, even the best ship is still going to have tough times," he said in a shift in tone from a year ago, when he said Tesla will also be removed; self-promotional material or business-related solicitations or PR , and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
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