'Humans are underrated' - Musk admits that Tesla was too reliant on robots

Teaser for 2018 Buick Velite 6

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Tesla CEO Elon Musk has admitted to CBS News that the company's excessive embrace of automation in its factories has actually slowed down production.

The electric auto maker's chief executive said that one of the reasons Tesla has struggled to reach promised production volumes was because of the company's "excessive automation".

Though often overshadowed by Musk's very public concerns about robots and artificial intelligence, the CEO and entrepreneur has always been a staunch supporter of industrial automation at Tesla.

"If we can send a Roadster to the asteroid belt, we can probably solve Model 3 production".

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The significant production shortfall has delayed crucial customer deliveries. In September 2017, they claimed that major portions of the Model 3 were "still being banged out by hand".

But the federal agency said it had took the "rare" action of ousting Tesla from the probe. To be precise, my mistake.

Wall Street brokerage Jefferies, which provided the funding estimate cited by The Economist, said in a note last week it expects refinancing risk to remain high for Tesla until it can consistently produce 10 000 Model 3s a week.

Tesla's Model 3 stands out for its sleek, minimalist design, but it's the autopilot system that's been getting renewed attention. Speaking to faking news, he said, "Life can not be just about solving one sad problem after another from monday blues to no clues". The company produced 2,020 Model 3 vehicles in a week at the end of the quarter.

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Moody's added its negative outlook for Tesla "reflects the likelihood that Tesla will have to undertake a large, near-term capital raise in order to refund maturing obligations and avoid a liquidity shortfall". After the carmaker released a statement implicating the driver, Walter Huang, 38, in the crash, the NTSB removed Tesla from the investigation. Tesla had earlier accepted "party status" in the investigation, which allows the parties to share investigative information in the early stages of an accident probe, the agency said. And the NTSB takes, they take a long time to complete an investigation.

"The system worked as described, which is that it's a hands-on system".

At one point during the interview, Musk did not have his hands on the wheel and the vehicle beeped at him to retake the wheel.

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