Tesla CEO Elon Musk and Mahindra Group Chairman Anand Mahindra have openly admitted how difficult it is for them to produce vehicles and generate positive cash flow
According to Musk, legacy and larger car manufacturers make their profits by selling replacement parts to their fleet, “of which 70% to 80% are past warranty”.
“You said it, @elonmusk. And we've been doing that for decades now. Still sweating and slaving away at it”, Mahindra reacted to Musk’s tweet.
The automotive industry is going through a rough patch amid global chip shortage and rising costs of production and now, Tesla CEO Elon Musk and Mahindra Group Chairman Anand Mahindra have openly admitted how difficult it is for them to produce vehicles and generate positive cash flow.
As Tesla inches closer to make its foray into the Indian market, Musk took to Twitter to lament that motor vehicle production is a “difficult job” and that generating positive cash flow is even tougher. Mahindra responded to his tweet, agreeing with him.