Tesla's Board Said to Be on Lookout for Senior Talent, Not COO

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In an interview with the New York Times, the Silicon Valley luminary called this year "the most hard and painful" of his entire career.

Musk repeatedly teared up during the Times interview, telling the newspaper that he nearly missed his brother's wedding as he worked 120-hour weeks and referring to an "excruciating" period of trying to meet the company's vehicle production goals.

On top of that, the company's battery Gigafactory outside Reno, Nevada is still only partially complete, and Musk has said that an announcement about a European plant will likely come by the end of this year.

"If the board is going to take any initiative, they will clamp him down", said Maryann Keller, an independent auto industry analyst in Stamford, Connecticut. On Thursday, the Wall Street Journal reported that the SEC is looking into whether Musk tweeted about taking Tesla private to hurt those who were shorting the company's stock. The article quoted one source as saying some board members are anxious that Musk is tweeting on Ambien, and referred to concerns about occasional recreational-drug use.

Musk added he had agreed not to tweet again about taking the firm private unless he had discussed it with the board.

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Musk claimed in the interview that he had been working as many as 120 hours a week recently, saying that he has not had more than week off work since he was bedridden with Malaria in 2001.

Elon Musk has given an extraordinary interview during which he burst out in tears, asked for someone to take his job as Tesla CEO and admitted he relies on Ambien to sleep. The interview comes after the Securities and Exchange Commission launched a federal investigation against Musk and Tesla because of a post on Twitter.

Musk said he wasn't aware that the search for such an executive was now active, but the Times quoted other sources as saying such a search was indeed underway.

In the interview, Mr Musk revealed the physical and emotional toll of the past year as he sacrificed family milestones in the race to meet Tesla production targets.

In one weird moment in July, Musk labeled a British caver a "pedo" - or pedophile - after the rescuer dismissed the Tesla chief's idea for bringing 12 trapped Thai boys to safety in a miniature submarine. At the same time, it's worth noting that a key indicator of Tesla's all-important vehicle production capacity is ticking higher all the time. They can have the job. Tesla could be on the hook for any of those losses as a result of trading on information in Musk's tweet.

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He is working well, playing well, he does [it] for the fans, for the team, and that's what I want. "I repeat, I couldn't be happier".

'Is there someone who can do the job better?

"If you have anyone who can do a better job, please let me know", he told The Times. They can have the reins right now'.

The brokerage said the carmaker's premium Model 3 sedan will also not produce better profit margins than a conventional BMW BMWG.DE .

The Drive reached out to Tesla for comment about the potential privatization or if there is an ongoing search for someone to take on the COO role, but there has been no response at the time of publishing.

That signals regulators are investigating if Musk was truthful in the tweet about having the financing set for a deal that analysts have estimated would require $25 billion to $50 billion.

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