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Tesla Gets a $94 Billion Reality Check as EV Winter Sets In (www.bloomberg.com)

submitted 10 months ago by L4s@lemmy.world to c/technology@lemmy.world

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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.

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[–] ringwraithfish@startrek.website 32 points 10 months ago (1 children)

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.

[–] TheDarkKnight@lemmy.world 2 points 10 months ago

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.