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Tesla's Elon Musk has announced a "thorough reorganization" amid concerns about the electric carmaker's production output and mounting losses. "That's telling you there's something wrong".

Musk said on a May 2 earnings call that the company was "going to conduct sort of a reorganization restructuring of the company. this month and make sure we're well set up to achieve that goal".

Tesla is valued similar to General Motors Co. despite selling a fraction as many vehicles and burning through billions in cash.

A Tesla spokeswoman declined to comment on the incident Monday afternoon, but did share links to three tweets by sent by Tesla founder and CEO Elon Musk on Monday.

Schwall had been Tesla's director of field performance engineering, according to his LinkedIn page, which said he served as Tesla's primary technical contact with safety regulatory agencies such as the National Highway Traffic Safety Administration and the National Transportation Safety Board.

Wall Street showed its skepticism Monday after Musk's memo, as investors shaved 3 percent off Tesla's share price.

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Several troubles have hit Tesla recently, including the news that the company's Senior Vice President of Engineering, Doug Field, would be temporarily leaving.

Matthew Schwall, the director of field performance engineering at Tesla, who was the company's main technical contact with USA safety investigators, has just joined the self-driving vehicle company Waymo. In March, Tesla confirmed two of its top financial executives had parted ways, and in February, sales chief Jon McNeill defected to Lyft Inc.

Despite the timing, Schwall's exit is not believed to be tied to Autopilot issues the electric vehicle maker is reportedly facing, according to Engadget.

Tesla's efforts to mass manufacture an electric auto for the first time has vexed the company for months. The long range, rear-wheel drive Model 3s that Tesla has been building so far, have been selling for $50,000 to $55,000, with most buyers opting for AutoPilot according to anecdotal reports in Tesla forums. "In those select areas where we have had challenges ramping fully automated processes, such as portions of the battery module line, part of the material flow system, and two steps of general assembly, we have temporarily dialed back automation and introduced certain semi-automated or manual processes while we work to eventually have full automation take back over".

Tesla is preparing to reorganize its management structure as the company continues to struggle with Model 3 production bottlenecks. "Fair criticism, but we're fixing it fast". A "hackathon" team is now competing to address the two most significant production chokepoints.


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