"The company will pull out all the stops, it will do a lot of one-time items, we believe, to show a GAAP profit in the third quarter". "We will never achieve [our] mission unless we eventually demonstrate that we can be sustainably profitable", he wrote in the letter.
Tesla's Autopilot semi-autonomous auto tech has been implicated in numerous crashes lately, and though it's been tough to say where the blame for these incidents lies, Tesla is convinced their software isn't at fault. He says there's still a significant need for additional production workers.
The report comes amidst other significant news becoming public, that the company is laying off almost 10% of its workforce. He said most Tesla employees working at Home Depot will be offered a chance to move to Tesla retail locations.
He wrote that reaching Musk's Model 3 production goal of 5,000 vehicles per week by the end of June is still the primary driver of profitability. It can easily top $50,000 with options.