Elon Musk, the billionaire CEO of Tesla and SpaceX, is criticizing the media as being driven by advertising dollars and says he plans to create a website called Pravda that will rate journalists’ credibility.
Musk made his proposal last week, denouncing the press for what he feels is unfair coverage of his electric car company.
But a 2017 annual report Tesla filed with the U.S. Securities and Exchange Commission shows the company crediting the media as a significant driver for sales.
“Historically, we have been able to generate significant media coverage of our company and our vehicles, and we believe we will continue to do so. To date, for vehicle sales, media coverage and word of mouth have been the primary drivers of our sales leads and have helped us achieve sales without traditional advertising and at relatively low marketing costs,” it stated.
Tesla has been fighting negative press for several months over production bottlenecks for its Model 3 sedan, crashes involving its cars and doubts raised by Wall Street over its cash position.