Tesla shares closed higher Monday, ahead of reports that CEO Elon Musk emailed the entire company about an employee who had been caught in the act of sabotage against the business. The employee is accused of changing coding on internal products and sending sensitive data to third-parties.
Musk has also sent a second email in relation to a small fire that broke out at a Tesla fire on Sunday. No one was injured in the Tesla factory incident.
Tesla shares ended the US Monday trading session 3.53% higher at $370.83. However, the stock is in the red in pre-market activity.
Unusual sabotage at Tesla
A variety of reports state that Musk emailed all employees overnight, sharing information that the company had uncovered a saboteur within its ranks. The employee in question has already been quizzed and told the electric car manufacturer he acted after being passed over for promotion.
“The full extent of his actions are not yet clear, but what he has admitted so far is pretty bad,” Musk reportedly wrote in the email.
“His stated motivation is that he wanted a promotion that he did not receive,” Musk said, adding: “In light of these actions, not promoting him was definitely the right move.”
Tesla factory fire
A few hours later, Musk emailed employees again to report a small fire at one of its’ factories. No one was hurt in the production line fire, which was described as another “strange incident”.
“Could just be a random event, but as [former Intel CEO] Andy Grove said, ‘Only the paranoid survive’,” the email reportedly states. “Please be on the alert for anything that’s not in the best interests of our company.”
Tesla is under pressure after it announced it was cutting 3,000 staff while still working hard to ramp up production levels of the Tesla Model 3 by the end of this year.