He fought against Californian stay-at-home orders, arguing the Tesla plant was an essential business, while leaked emails asking for workers to return to the plant this week have seen that plan shelved, while suggesting there would be no more cases of COVID-19 in the United States by the end of April.
Musk, who has often made outspoken and even inflammatory comments on conference calls and on Twitter, said in comments to analysts on Tesla Inc's earnings call that it was "fascist" to say people can not leave their homes.
Furthermore, Tesla CFO Zach Kirkhorn said Tesla ended the quarter with the "highest ever" vehicle order backlog despite the expiration of electric vehicle federal incentives on its orders, according to Marketwatch. The company on Wednesday did not update its previous forecast of delivering half a million vehicles by the end of 2020.
The electric vehicle and solar panel company said it made $16 million from January through March, its third-straight profitable quarter. The contribution was related to sales of regulator credits, the company said. Tesla's Fremont factory may be forced to remain shuttered (indefinitely).
CEO Elon Musk and Bitcoin.com chairman Roger Ver have both called for an end to the COVID-19 economic lockdown.
Despite being impacted by the coronavirus since March, Tesla reported a 75% year over year increase in gross profits to $1.3 billion, up from $751 million in the first quarter of 2019.
In the Bay Area, where Tesla's Fremont factory is located, businesses considered non-essential have had to suspend work amid the COVID-19 outbreak in the country.
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"The immediate future doesn't look like the ideal time to be selling premium priced cars, so perhaps it's no surprise guidance has been paused", Hyett said.
Excluding one-time items, Tesla learned $1.24 per share.
Tesla also reported strong production numbers at its factories in the USA and China, The company built 102,672 vehicles in the quarter, even after its Fremont, California factory was forced to suspend operations in March during the coronavirus pandemic.
While most of the auto industry reels from stalled vehicle production and empty dealer showrooms, electric automaker Tesla reported strong first quarter earnings in 2020, indicating that demand for its electric vehicles remains steady, despite a slowing economy due to the coronavirus pandemic.
"Very sensible", Musk tweeted late on Wednesday responding to a media report on how Germany was lifting its restrictions.