Tesla Gets a $94 Billion Reality Check as EV Winter Sets In - eviltoast
Tesla Inc. had a blockbuster 2023, as its shares more than doubled in 12 months. But 2024 is starting on a different note, with Elon Musk’s electric vehicle maker off to its worst start to any year — ever.

Tesla Gets a $94 Billion Reality Check as EV Winter Sets In::Tesla Inc. had a blockbuster 2023, as its shares more than doubled in 12 months. But 2024 is starting on a different note, with Elon Musk’s electric vehicle maker off to its worst start to any year — ever.

  • abhibeckert@lemmy.worldEnglish
    514·
    10 months ago

    Tesla has a market cap of $800 billion.

    To put it in perspective… GM is on track to earn that much money over the next one hundred years - they made $9b last year and $6b the year before (that was a low year, supply chain issues).

    And even if they somehow found the money, regulators would likely block it.

    Tesla, on the other hand, could buy GM if they wanted to. Not sure why they would though, since Tesla is successfully selling EVs (the future) and GM can’t figure out how to repeat that. GM’s EV cars are not profitable yet and they just discontinued their best model (the Bolt).

    • makar94@lemmy.dbzer0.comEnglish
      39·
      10 months ago

      This place is pro-ev, but very anti-Tesla. So weird. They’re naming failed car companies and sure, it does prove their point, but most companies fail. I could literally say the same thing about Ford and Toyota. Who knows what happens in the future. Literally no one knows.

      • stephen01king@lemmy.zipEnglish
        1·
        10 months ago

        You’re the only one claiming to know they’ll survive. Other people are claiming nobody should know because your original argument for why they’ll survive doesn’t make sense. It’s funny how you’re now claiming to be the one that thinks the future is uncertain.

        • NotMyOldRedditName@lemmy.worldEnglish
          2·
          10 months ago

          The thing a lot of people are still ignoring is Tesla isn’t just a car company.

          Tesla is going to be more like General Electric than any of the traditional automakers and it’ll be more and more obvious as the years go on.

          They design and build their own batteries. They are about to refine their own lithium. They are designing their own super computers. They sell batteries to consumer and commercial companies with software managed by AI to optimize the usage of those batteries.

          They are going to keep coming out with other non car products, such as a residential HVAC system.

          And they’re doing all this with industry leading margins on everything they do even after all the cuts.

          They’re way more resistant to problems than some specific car brand that went under. Even if the car side of things falters, they still have everything else to help prop them up.

          I don’t think anything is guaranteed one way or another, but Tesla is in a much better spot to survive longer term because of all the ways they can use their expertise.

          I know most people don’t believe the Bot will amount to anything, and maybe they are right, but the very fact they are doing something like that is diversifying the risk they put into their AI division. Now it’s not just 1 failure point, they’ve found another way to benefit from their work.

          Edit: and how could I forget the charging network. The whole car business itself could collapse and that’s a massive business of its own