Elon Musk denied rumors that he might resign as CEO of Tesla on Tuesday and announced that the maker of electric vehicles and solar panels would begin advertising at the company’s annual shareholders meeting.
One shareholder challenged Musk about resigning as Tesla’s CEO, “Say it ain’t so.” He answered, “It ain’t so,” without further comment.
Musk said he is open to Tesla trying advertising when another shareholder proposed it.
At the shareholder meeting at the Tesla plant site close to Austin, Texas, he told the shareholder, “This has some merit.” We’ll experiment with some advertising to see how it performs.
Since Musk has 140 million followers on Twitter, acquired by the social media behemoth for $44 billion last September, Tesla has notably avoided spending money on advertising like its rivals.
The company’s “Full Self-Driving” software is almost at the point where it is safer than human driving; Musk told shareholders.
A promise he has made for several years; he had stated that the system should be ready this year.
Tesla claims on its website that drivers must always be ready to take over for the vehicles because they cannot drive alone. U.S. safety regulators also ordered the corporation to recall the software because it occasionally disobeyed traffic laws.
Musk warned during the meeting on Tuesday that the Austin-based company may have difficulties in the coming year, partly due to higher interest rates that have increased the cost of purchasing a car.
He declared that the company “Tesla is not immune to the global economic environment” but will survive the crisis and prosper even while many other businesses fail.