It was less than a week ago that the Washington Post was giddy with this
Why 2017 will go down as the beginning of the end of the internal combustion engine
One of the reasons?
The debut of Tesla’s Model 3: The company’s first mass-market vehicle has ushered in an era of excitement about EVs because of the car’s slick design and starting price of around $35,000.
How’s that working out?
Tesla fires hundreds as Model 3 electric car production drags
Tesla has reportedly fired hundreds of employees amid signs that the company is off to a slow start in manufacturing its crucial Model 3 electric car.
The Palo Alto, Calif.-based automaker and tech company dismissed several hundred workers, according to multiple reports, including an initial story by the Mercury News. Reuters also reported the news.
The dismissals occurred after what Tesla described as “an annual performance review” of its more than 33,000 employees. The company did not provide specifics.
But the firings reportedly included engineers, managers, salespeople and factory employees.
Guess we’ll still have the combustion engine around for awhile more. Especially since a car that starts at $35,000 isn’t exactly middle class fare.
We’re still a few minutes from market close, but GM is at $45.02, down 0.73 (1.60%), with a market capitalization of $65.59B; Ford is at $12.24, up 0.23 (1.07%) with a market cap of $48.61B. Tesla reports in at $354.71, up $4.11 (1.17%), market cap of $59.15B.
If Ford and GM are priced close to reality, then Tesla is monstrously over-valued: loses money ever7y year, pays no dividends, and never seems to live up to its promises.
My favorite part is when we learn they’re making three Model 3’s a day.
Their dreamy high tech production line, crucial to keeping manufacturing costs down, wasn’t working as expected (at all), forcing them to fabricate many parts by hand in order to make minimum production goals. Tesla is not yet ready for prime time.
Of course they’re ready for prime time. The only reason that they are still in business is that they soak up all of that taxpayer cash for retarded unworkable boondoggles…err clean energy initiatives, but hey, Joe Q. Public can foot the bill for their crappy product. I have to admit though, I see a fair amount of Teslas in STL and it makes me giggle every time – what kind of idiot would buy a car that randomly burst into flames on the charging station and torches your home – for 80K? Well, I’ll tell ya, Uncle Sam pays 80K (that’t you Mr Taxpayer), and some insecure twatwaddle that figures that a Prius with a Coexist and Hillary16 doesn’t quite say “asshat” loud enough ponies up another 80k.
Hey Jeffey, you drive a Prius or a Tesla?
Taxpayers have subsidized GM, Ford and Chrysler with billions of USD over the decades, in direct payments, road subsidies, and of course, by not requiring the auto and oil companies to take responsibility for dumping gigatons of CO2 into the atmosphere.
I keep a spare Prius in the trunk of my Tesla, which I tow behind my hybrid Escalade. Be prepared.
Jeff,
Very foolish statement, again full of lies and distortion. Obama certainly gave to the auto industry, which was an illegal act and hurt investors. As to the CO2, you certainly put out your share of the substance, so why don’t you do something about that?
[…] Hat tip to William Teach. […]