Ending Soon! Save 33% on All Access

Elon Musk Admits He Was Wrong, But His Confidence Is Still Intact Tesla suffered production line delays throughout 2017.

By Nina Zipkin

Bloomberg | Getty Images

We've all had moments when we've overestimated the task ahead of us and had to recalibrate. And while Elon Musk frequently has to contend with high stakes science to get his products -- including electric cars and rockets -- to work, not even he is immune to that kind of mistake.

In an earnings call on Wednesday, Tesla CEO Elon Musk addressed the production line delays that dogged the company in 2017.

"It's ironic since battery modules should be the thing we are best at," Musk said. "We were a little overconfident, got too comfortable with our ability to do battery modules."

Related: 3 Things You Can Learn From Tesla's Rollercoaster Year

The company's plan is to continue to work toward manufacturing 5,000 cars a week by the end of the second quarter of 2018. Since Tesla was such an eye-catching part of the successful SpaceX Falcon Heavy launch, Musk also made mention of it during the call.\

Clearly his confidence is not something that is so easily shaken. Case in point: "If we can send a Roadster to the asteroid belt, we can probably solve Model 3 production."

Which proves that if you're stuck on one problem, focusing your efforts on another project can help you push forward and reveal what might be missing.

Nina Zipkin

Entrepreneur Staff

Staff Writer. Covers leadership, media, technology and culture.

Nina Zipkin is a staff writer at Entrepreneur.com. She frequently covers leadership, media, tech, startups, culture and workplace trends.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business Models

How to Become an AI-Centric Business (and Why It's Crucial for Long-Term Success)

Learn the essential steps to integrate AI at the core of your operations and stay competitive in an ever-evolving landscape.

Business News

'Creators Left So Much Money on the Table': Kickstarter's CEO Reveals the Story Behind the Company's Biggest Changes in 15 Years

In an interview with Entrepreneur, Kickstarter CEO Everette Taylor explains the decision-making behind the changes, how he approaches leading Kickstarter, and his advice for future CEOs.