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Tesla Gets a $94 Billion Reality Check as EV Winter Sets In
(www.bloomberg.com)
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this post was submitted on 13 Jan 2024
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"EV winter" is a silly framing. Many Chinese EV companies are on a roll, with BYD just surpassing Tesla in EV shipments in the last quarter. EVs are now mainstream in China and the car markets in other countries won't be far behind. Obviously, Tesla faces more challenges from the fact that it no longer has the market to itself, but competition is a good thing.
I had the same thought. I always wonder if these types of articles are written with the purpose of sowing negative feelings towards EV in order to maintain the fossil fuel status quo.
EVs are here to stay. Tesla's valuation drop has nothing to do with consumer appetite for EV and everything to do with the fact that they're overpriced, poor build quality, questionable design and engineering decisions, and the abyssal oversold failure of full autonomous driving.
In addition it’s not a stable, safe choice anymore because of the volatility of leadership. Musk’s increasing erratic behavior does not inspire confidence that Tesla will continue to be the darling it once was.