Tesla In Freefall
Elon Musk’s Tesla automobile company is finally facing reality, and it is ugly. The corporation has lost and continues to lose billions in its pursuit of manufacturing and merchandising electric vehicles. Musk is aware of the cliffs he has to climb to put its mid-priced Model 3 on the road. So far he hasn’t reached his targets and it looks like he will continue to miss them in the months to come. The financial markets, which have been extraordinarily patient with him, are now beginning to circle like buzzards over a carcass. Musk needs money, plenty of it, and he’s going to have a hard time getting it. Meanwhile, his competitors in the auto industry are coming out with fully electric vehicles and threatening his market share. There is now open predictions that the company will collapse in the near future. If so, it will be a loss to the economy, but it will also be Musk’s own fault. He knows he has to put dollars on the bottom line, but he hasn’t done it. He has lived on positive publicity for too long. It’s time to produce.
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