Investor Gary Black of The Future Fund LLC has slammed Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk‘s Robotaxi promises to investors ahead of the EV giant’s second-quarter earnings call after market close on Wednesday.
Gary Black Says Elon Musk Needs to Shore Up Credibility
In a post on X on Tuesday, the investor lamented Tesla’s upper management, which “continues to overpromise and underdeliver,” he said, outlining that the EV giant has underperformed legacy automakers like General Motors Co. (NYSE:GM) and Ford Motor Co. (NYSE:F).
He shared that while GM and Ford’s autonomous efforts were not superior to Tesla’s, “Elon keeps making outlandish promises” like Tesla Robotaxis serving 50% of the U.S. population by the end of last year.
“The comms at TSLA are sorely lacking and @elonmusk needs to bring on 1-2 adults to shore up credibility,” the investor said, delivering sharp criticism of the company, as well as its lack of communications and PR.
Gary Black on Robotaxi
Recently, the investor said that 245 cybercabs being sighted at the Giga factory in Texas were “just for show” if they could not operate autonomously without needing a human safety operator.
Notably, many of the investors’ questions center around Tesla’s autonomous efforts, Robotaxi ramp-up, as well as the status of the Optimus humanoid robot. Analysts forecast the company reporting revenue of approximately $27 billion and a GAAP EPS of $0.36 per share.
According to Benzinga Edge Rankings, Tesla scores well on the Growth metric, but offers poor Value. It also fails to provide a favorable price trend in the Short, Medium and Long term.
Price Action: Tesla shares were up 0.04% to $379.10 during overnight trading on Tuesday.
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