This is a death sentence for Tesla. I have a Model 3 that I enjoy despite its shortcomings. One of the deciding factors was the supercharger network. It’s the easiest system I’ve used for charging. It makes all other networks infuriating in comparison.
A lot of people get Teslas for the ease of charging alone. If the network starts to falter, people will leave the brand even faster than they already are.
Tesla really needs to vote this idiot out of the CEO position before he kills the company.
Not to mention the charging infrastructure is one of the reasons some people haven’t made the switch yet. Anything holding back charging expansion is a disaster in my view.
I don’t think that’s it at all. The cost of a new car, any new car, is still out of reach for the vast majority of Americans, much less a dedicated daily commuter vehicle (because you need a gas car for long trips). PHEV is an imperfect compromise, but there simply aren’t enough used PHEV models available on the market.
I bought a car last year, and I really wanted to get something electric, but the car I need just doesn’t exist at the price I can afford. Chargers didn’t factor into it.
You say “you need a gas car for long trips”, and “Chargers didn’t factor into it”.
Isn’t that directly contradicting? Why else do you feel like you need a gas car for long trips if it isn’t related to either not enough chargers or chargers still not being fast enough for you? Chargers absolutely factor into that part of why you didn’t buy electric yet.
But also, the notion that they can’t do long trips is already pretty outdated. There are very few places left where you would even need to take a detour to take a long trip in an electric car. The only downside is that charging at max speed takes about 3x as long as filling with gas still, and not every charging station is max speed. As that continues to improve, it’ll be less and less of a difference.
So, funding the R and D department of the charging network, as well as the construction of the charging network, are absolutely fundamental to more people adopting electric as their single vehicle choice. And not as their second vehicle only for one small purpose.
If I want to go anywhere out of my state, I now need to budget nearly an hour every 200 ish miles for charging. That turns what used to be a 6 hour trip into closer to 8 or 9.
It would take most of the charge range just for me to get to anything interesting, and now not only do I have hours of driving to do, but also hours of sitting around doing nothing.
A gas car can be fully refilled in 5 minutes and be ready for another 300 miles of driving. Electrics just don’t have the appeal to someone like me who makes somewhat regular trips over distances. I’d love to take trains, but that’s not viable in my area, so I’m sticking with gas cars for now.
Not an hour, I regularly go from STL to Chicago in my electric car and it adds 25 min if im driving right back. If I’m staying overnight and plug-in it only adds 15. That’s also when I go to the bathroom and get a snack.
Wow, that sucks. I guess Canada is further ahead in that. Electric car charging is 20 minutes per 3 hours here. I can see why it would make a big difference if it’s an hour for your chargers.
It could also be the software for your car isn’t well optimized, they should ideally be having you stop around 25% battery and charging up to around 75% if you are trying to make the best time. The software should inject the stops as close as possible to that ideal if you tell it to prioritize speed.
But if the only chargers you have on your route are that slow, then I guess there isn’t much you can do but hope companies don’t stop funding the R and D and contsruction of more up to date ones.
I don’t think it’s the chargers, but the vehicles. Someone correct me if I’m wrong since I’m only familiar with Tesla, but enroute chargers do tend to be super/fast chargers already, and destination chargers really don’t need to be.
A fast charger is theoretically fast enough but vehicles only use its full power for a short time. each vehicle has a curve of the power it can use, where it’s usually not using the full capacity of the charger. I really think we mostly just need improved vehicles, and they have been improving over time
I was mostly being facetious, I don’t think it’s any different in Canada. The guy was just wrong about it taking an hour every 2 hours of driving.
Right. If you put in enough chargers, ranges of 300 to 400mi are fine. You need to stop every 2 to 4 hours, anyway, so it’s not a big deal in practice.
It’s not a big deal if you’re only driving a few hours. Longer trips, especially business trips, yes that’s a big deal.
Not to mention, the real world tests don’t support the stated driving ranges for most models. Ideal conditions hardly ever exist in the real world.
In the real world, people don’t regularly drive 600 miles in a hurry either.
Most people don’t, but some do. I did for a while, when I was working as a construction manager and then again as a generator technician. It’s a big country, with all kinds of people. I think you’d be surprised how many people frequently need to drive ling distances in a hurry.
I get more than the stated range in the summer and less in the winter.
Stopping every 2 hours is nuts. 4 hours sure ok. I regularly drive long distances for work and if it’s 6 hours or less I’m going to try to make it without stopping at all.
You’re harming yourself doing this. First, sitting for long periods of time isn’t good, and getting up and stretching every 2 hours is recommended. This applies to office work just as much as driving. Second, urination typically happens every 3-4 hours, and if you’re not, then you’re likely dehydrated or have something else going wrong.
If you really, really want to do this, well OK, but we shouldn’t put the whole EV transition on hold just to let you do this.
Yeah nothing’s going to stop me and I do far worse things for my health. You’re right though.
And yeah I was just commenting on the two hour thing which I thought seemed silly. Nothing to do with the original topic of EVs.
No, it isn’t directly contradictory, because those advancements aren’t available now and there is a directionality to the relationship between mass adoption and infrastructure. I wanted to buy one despite the lack of infrastructure, but there were too many barriers to entry.
I know where the chargers are, and I know that I can probably charge at home and at work and at the rest stops where we normally stop for gas. But I also frequently go to places where even gas stations are rare, and it still takes 3 times as long to charge, and I may not always have that kind of time. I may find myself on an unexpected trip where I need to gas up, and without that option, I don’t really have a car I need.
Yes, I think we should be investing in research and development, and maybe one day there will be a charging network capable of replicating the speed and ubiquity of gas stations. But that’s not going to happen until and unless there is mass adoption, and there won’t be mass adoption until the cars are affordable and available. You need people everywhere demanding more charging stations, or the infrastructure won’t happen. Business owners aren’t ever going install more chargers than they need in the hope that it will sell more electric cars. That’s backwards.
Even if that charging network existed today, the existing lineup of cars are still priced at a premium and are difficult to find in stock. I wanted one, and could not find something affordable near me. The additional cost wasn’t something I could justify, regardless of whether the chargers were available.
Trying to decide if I agree or disagree, so I upvoted!
The problem is that more people feel that way than would be actually affected. Making numbers up here, but BEVs should handle the needs of 90% but 50% are convinced they can’t. There’s a huge mismatch of expectations.
Combine that with lack of availability, high prices, and manufacturer/dealer resistance to change, and it’s not going smoothly
But the other half of the argument is that things just don’t magically get “good enough”. It’s a progression where some aspect gets a little better or a few more are sold, prompting the need for more investment in another aspect. Any such huge change in something that affects everyone’s life, will be chaotic and take time. How do we smooth that out? Speed the process up?
US needs to regulate chargers.
Yes, yes, market and all. But look at printers. Or charger cables for small electronic devices (EU stepped in). Lock-in of customers is an incentive working against common chargers.
US needs to regulate chargers.
100%. This should have been addressed years ago, honestly. No one would tolerate VW only being able to gas up at Shell stations due to different nozzles. This is no different.
Did Tesla not make their charger an open standard that every new ev is shipping with?
Eventually, yeah.
In the past Elon offered it as part of a bundle, with the deal being:
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You get to use the Tesla connector and superchargers
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Tesla still retains all rights and ownership of the standard and can revoke access whenever they wish
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You agree agree not to use Tesla in the event they infringe on your parents
Unsurprisingly, nobody accepted that deal. I wonder what it was that prompted Tesla to have a change of heart? Were they expecting the government to step in and enforce a standard, a la EU, and they wanted to get ahead of it?
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I don’t get this concern: in the early stages when things were privately funded, there were incompatibilities, but with federal money and new standards, we seem to have a good set of regulations in place to ensure everything works together.
The beginnings of a market are chaos, but this one seems to have shaken that out
US needs to regulate chargers.
- The Department of Transportation, in partnership with the Department of Energy, finalized new standards to make charging EVs convenient and reliable for all Americans, including when driving long distances. The new standards will ensure everyone can use the network – no matter what car you drive or which state you charge in. The standards also require strong workforce standards;
- The Federal Highway Administration (FHWA) outlined its final plan for compliance with the Build America, Buy America Act for federally funded EV chargers. Effective immediately, all EV chargers funded through the Bipartisan Infrastructure Law must be built in the United States. The plan requires that, effective immediately, final assembly and all manufacturing processes for any iron or steel charger enclosures or housing occur in the United States. By July 2024, at least 55 percent of the cost of all components will need to be manufactured domestically as well;
- The new Joint Office of Energy and Transportation released a notice of intent to issue a funding opportunity for its Ride and Drive Electric research and development program. This program will advance the goal of building a national network of EV chargers for all Americans by supporting EV charging reliability, resiliency, equity, and workforce development;
- The Department of Energy today announced $7.4 million in funding for seven projects to develop innovative medium-and heavy-duty EV charging and hydrogen corridor infrastructure plans serving millions of Americans across 23 states;
- FHWA announced details for its soon-to-launch Charging and Fueling Infrastructure (CFI) discretionary grant program. The program will make available more than $2.5 billion over five years – including $700 million in funding through the first round of funding available to states, localities, Tribes, territories, and public authorities – to deploy publicly accessible charging and alternative fueling infrastructure in communities across the country, including at schools, grocery stores, parks, libraries, apartment complexes, and everywhere else Americans live and work; and,
- The Administration highlighted major manufacturing and other new facilities spurred by these investments and the Biden-Harris Administration’s Made in America policies, including new commitments from domestic EV charging manufacturers and network operators.
Assuming it isn’t strangled in the cradle by Red State infrastructure haters (like the HSR projects through the Midwest that Obama failed to implement), this could be a good thing.
But I’ve seen so many of these kinds of plans get a ton of money and produce vanishingly little in the way of material change. So we’ll see where it all goes.
Tesla really needs to vote this idiot out of the CEO position before he kills the company.
That was last year. It’s too late now.
They can’t because the Musk personality cult is pretty much the only thing keeping the company viable at this point. They are absolutely fucked.
I see this repeated a lot but can’t see how it’s possibly the case. Dude has burned so many bridges over the last few years and I can’t say that I ever see anyone actually defend him personally. I think it’s more that his “anti-fans” see any positive comment toward SpaceX, Tesla, Starlink, or anything else as someone defending/supporting him when that simply isn’t the case.
My boss, who doesn’t even have a Tesla but is a nutty conservative, loves talking about Musk like he’s the modern day Henry Ford.
This comment is, in a nutshell, why Tesla is fucked. Conservatives will never buy electric until after Tesla is long dead so hitching your wagon to them is suicide.
Sure, but it’s not just Elmo’s NüFascist Clownshow Bonanza that’s the problem - he also makes horrible decisions and is a truly terrible “leader”.
Those horrible decisions are a minor contributor to the mass exodus by Democrats, who are the vast majority of Tesla owners.
I’m their prime demographic, currently car shopping to replace my wrecked Benz, and was leaning towards a Model 3 up until reading this headline lol. I guess I could still charge at home or if the network fails it could be purchased by another company?
Or I just avoid stressing about it altogether and get a normal car
EVs are awesome. I loved the two I had. The only reasons I don’t have one now is I hardly drive anymore and am doing construction on my house that makes a truck become useful. If there were an EV truck that wasn’t the size of the house I’m building or the cost of the house I’m building, I’d have gotten that. Instead I got the Maverick hybrid.
If you enjoy the luxury of the Benz, then the Model 3 would have been a step down. There are a lot of good EV options in the luxury range, but very few in the low end range. The Volvo XC40 was really fun to drive and pretty comfortable. My friend loved her Porsche Taycan (that might be too high end, not sure). My coworker just got an i4 and really likes it.
I do think someone would immediately buy the charging network if it were an option. I mean gas stations have all kinds of stuff spring up around them when anyone stopping there won’t even be very long and only passengers will be bored with nothing to do for that short amount of time. At a charging station, you are taking a longer break and even the driver is participating in that break.
Owning the charge network is going to be a much bigger deal when it’s common to use your EV for long trips. And whether people want to or not at this point, it’s steadily becoming more and more normalized. It’s certainly more enjoyable overall to take a long trip in an EV. The downtime is nice. And healthier than sitting down for hours straight. Even before electric cars, people were encouraged to stop every 2 hours on a road trip anyway.
The old advice was to plan recreational stops along the trip, to prevent embolisms or cramps. What if charge stations had electric scooters or bikes and maps to fun 15 minute activities in range. Not to mention meals of course.
I know many people don’t take road trips in a healthy way currently, so gas cars seem like the better choice for them. You’ll “make better time” if that is the only important thing. But for people that already followed best practices, a road trip in an electric car is already the same.
Investors should build charging stations with infrastructure (ie restaurants, game rooms, etc) halfway between big cities that are 5 hours away from each other. 2.5 hours (~150 miles) is about the distance you can drive an EV before needing to charge. This would create tremendous bidirectional business for people traveling from big cities.
I used to drive a Benz, I hated it. Now I’m on my second Cadillac and I’m never going back. Cadillac makes a damn fine automobile tell ya what.
I bought a plug-in hybrid last week. I’d have gotten a pure EV, but I take road trips sometimes, and I don’t want to rely on the patchy changing network in the US.
Another factor is that I rent a house, and there’s already one EV to charge at 120V. The wiring can’t really handle a second charger, and I didn’t want to always be fighting over it.
Yeah, charging is the main reason I skipped a Tesla 4-5 yrs ago and went for the Benz. Thought chargers were getting more ubiquitous and available enough for me to give it a shot this time around, but all these Tesla layoffs got me second-guessing that
Just get a better EV.
Charging at home is the way to go. You may be able to refinance your home if you haven’t paid it off, and rope in upgrades for new charging circuits.
Plus, there are programs being developed - note none have been finalized - to allow EVs to give power back to the grid and so you could one day make money back from keeping your car plugged in over night. There are already time of use rates too for many markets in the US and EU. Plus there’s peace of mind knowing that your car will always be fully topped off every morning.
As an electrical engineer that has studied the idea of Plug-in Hybrid EVs (PHEVs) and Battery EVs (BEVs), personally I always try to persuade people to look into PHEVs for personal and societal reasons, but even if you don’t go with Tesla for your BEV purchase I think it’s still worth it to go electric. Maybe consider the Chevy Bolt EUV, Nissan Leaf, or Volkswagen ID.4. On the PHEV side, there’s the Ford Escape Plug-in Hybrid and Jeep Grand Cherokee 4xe. Lots of tax credits out there too for new ($7,500) and used ($4,000) so EVs are definitely still an opportunity!
- you could still charge at home
- teslas include a free adapter to the other us standard, so you could still charge at any other charging network
Didnt this fucking jackass just like less than a week ago in the quarterly earnings report say they were going to release an affordable EV in a year, and now they just announced aha just fucking kidding on that one?
And the latest FHD still has insane bugs that try to murder you and those around you?
I wonder how long it will take thunderfoot or common sense skeptic to do a vid on this. Amazing.
Ok so, Tesla, shitting itself.
Twitter, shitting itself.
Boring Company… have they actually started any new projects?
Hyperloop companies have now all, I think, either gone bankrupt, dissolved, or switched to doing something else.
SolarCity? Actual Scam and Fraud.
Neuralink?
They recently claim to have made some progress with an actual human recipient of something like a seizure mediation device, but basically Neuralink is run by a bunch of students of an actual ground breaker in the realm of neural implants, and this actual ground breaker has been extremely critical of the company, and I believe threatened a lawsuit as they are basically using his research.
Theres been a whole bunch of top level staff leaving and drama. Hey they managed to unspeakably torture some pigs and monkeys though!
What they have with thesuccessfull human implant is neat, assuming its being reported on accurately, but its nothing new or groundbreaking.
Only thing left is SpaceX, and the only thing they’ve got going is Falcon 9 and Heavy.
Falcon 9 and Heavy are legitimately good rockets, problem is Musk and Shotwell have said for about a decade now they would get the launch costs down to around 5 million and a turn around time down to 24 hours or less.
So far the fastest turnaround on a Falcon re-use is a bit less than a month. And launch costs are competitive, but theyre 10 to 15 times what’s been promised.
Starliner, BFR, whatever, has so far cost taxpayers about 2 billion dollars, is about half a decade behind the contracted schedule, would require something like 12+ launches including refueling to be capable of getting ONE vessel to Mars, or being able to get to the Moon and back.
Theyve launched three of the things and now have to redesign a 2nd and 3rd version. And the 3 launches have basically been failures.
I was surprised the third launch managed to actually get suborbital at all, but the ascent half impacted the ocean at about mach 1 or 2, and the actual starship developed an uncontrollable spin early on and burned up in the atmosphere.
In terms of the NASA contract, SpaceX is supposed to have made an uncrewed lunar landing as of… Q1 2024. Oops. Yeah thats about 12 launches and a moon landing and presumably return of the lunar lander… and so far they cannot even get one into orbit.
As far as orbit goes, Musk was originally saying Starship would be taking people to orbit in 2020. The thing is not even orbit capable yet, muchless human rated.
I dunno if SpaceX will go completely tits up as is/have most of Musk’s other companies, its possible they’ll remain significant with 9 and Heavy, but it should be obvious that with everything else Musk has lied about and mismanaged and his insane public appearances of late, and lawsuits… Starliner doesn’t have a future.
They’ll run out of their current funding contract from NASA, and NASA will realize that Lockheed or ULA or maybe Blue Origin is a better bet for their plans for the Moon.
SpaceX also has Starlink. I don’t know how it’s doing financially, but I do know it’s quite popular in places where wired internet isn’t available, and for people who are mobile. I’ve even seen pictures of cruise ships using it for internet access.
True, I forgot that, however, that last time any actual SpaceX/Starlink finance news came out it was Elon emailing SpaceX employees saying that if they did not launch some huge number of Starlink sats within like a quarter or something, that SpaceX would literally go bankrupt.
Since then, Starlink receivers have had a massive amount of design flaws reported on, had to issue out new receivers, which customers were made to pay for IIRC, and raised their subscription fees.
The service does at least seem to work, though not as originally advertised.
Oh also the whole, “sure Ukraine Mil can use Starlink, er uh well actually they need to pay for it and oh well now Im gonna shut it all off right before a planned offensive because I’m becoming more and more of a MAGA dingbat by the minute” bullshit from Elon.
Tesla really needs to vote this idiot out of the CEO position before he kills the company.
I was holding shares specifically so I could vote Musk out when a vote would come up. These changes listed in the article are too much. I just sold my entire position in TSLA.
Down in flames it is then.
Musk also told staff that he would ask for the resignation of any executive “who retains more than three people who don’t obviously pass the excellent, necessary and trustworthy test.”
Pssst. Elon. You’re not any of those three things.
Shouldn’t he resign based on this criterion?
that would imply self-awareness and some degree of competence
And not being a raging narcissist. But then he wouldn’t be a billionaire, so it would be a win win.
On the one hand, funny, but i mean, who even cares though, everything Elon is going to zero, because he only has terrible ideas
the idea that you should buy a car whose features are disabled unless you pay extra for them is probably the main driver of enshittification in society. It’s the enshittification of ownership. Of course capitalists love this idea, but no actual human being should.
And herein lies the danger of Billionaires. Who stops them when they want to impose their tyrannical agendas on the vulnerable. Who prevents him from buying an atomic weapon and setting it off for a meme stunt or internet points ?
If only us lowly workers had more rights.
I think you mean job creators! \s
Who prevents him from buying an atomic weapon and setting it off for a meme stunt or internet points
The army I would suppose. You had a point to start and, yes, the billionaire class is allowed to do almost anything they want but only an absolute moron could honestly believe he would be allowed nuclear weapons.
You’re assuming.
Removed by mod
… What does this random conjecture have to do with anything?
Is this clown trying to tank the company because he didn’t get his payout?
I think he’s trying to tank the company because he sees Sundar doing the same shit at Google and assumes it will lead to a big payout.
No he’s simply an arrogant, incompetent yutz.
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I’ve said before that the supercharger network is their most important long term asset. They opened up their plug standard, other manufacturers are jumping on board, and they have the largest network that supports all those new EVs.
Only problem is that it’s boring, and Elon doesn’t like boring. So now here we are.
What really baffles me is why he totally ghosted his battery swap station idea. That completely solves the range and charging time issue all in one fell swoop. Demonstrated it on stage even. Guessing it either wasn’t profitable enough for him, not s3xy enough, or he wasn’t smart enough to figure out how to scale it up.
He announced it as part of a tax break scam, then let the project die.
Nio has seemingly been successful with battery swap stations in their cars, so luckily the concept hasn’t been completely abandoned.
Tom Scott trying it out: https://www.youtube.com/watch?v=hNZy603as5w
I dont want your shitty old battery.
That is why.
I don’t want to rent the battery in my car.
That is why.
I’m not sure I’d want to be swapping my battery out like a propane tank. Not everyone would follow charging recommendations, etc.
It’s not that good of an idea in the long run. It was attractive when EVs struggled to have 100mi range and L3 chargers didn’t exist. Once batteries got good enough to push 300-400mi and there’s plenty of L3 chargers around, it’s just not necessary. The range will outlast your bladder.
That’s on top of what others have mentioned about how they can get abused. You’ll never know if the new battery you’re getting is good. Or if the charge station tests it and find it’s junk, then they have to do something with it, which increases their costs.
I disagree. I know cross country road trips isn’t the norm for most, but at the moment, it burns an hour (at least on my car) to recharge if you need to during the middle of a trip that out-distances your car’s range. A quick battery swap would solve that and give you the same ease/downtime as filling up at a gas station. I’d think some people have a hard time swallowing having to wait an hour to fill up if they’re trying to get somewhere.
10-80% charge time is in the range of 20 minutes. EVs already exist that will get you 4 hours of driving on that. Yes, even in the cold.
This isn’t as big a problem in practice as it’s made out to be.
I think there are actual longer term mechanical and safety issues with it. I don’t think the idea was quite ready for prime time just yet.
Elon doesn’t care about profit… See X Elon does care about sexy Elon is not the one who has to figure out anything.
So I guess it’s no 2. He didn’t get the feels for it.
funny considering how fucking boring he and his ideas tend to be
I know. The SC network and plug could make Tesla the new “Standard Oil” of the 21rst, (and a half!) Century. It could be far more valuable over the long term than that stupid truck.
It’s so unexpected: charging should be steady, reliable, predictable income for the foreseeable future, no matter whose BEVs are most popular. They dominate supercharging in the US at the moment, but rapid buildout means someone else has a chance. Don’t they want to lock in this market?
I guess I assume it’s a profitable market , independent of vehicle sales. I wonder if that’s true
I wonder if they miscalculated the install + maintenance cost vs the charging fee they’re giving customers. Like if it’s not balanced correctly they could be losing money on each charging station. Maybe the stations require more maintenance than they anticipated?
That seems like a super basic thing to do if you’re running the business, but so much of the initial rollout was about availability and low cost and do-it-now that maybe that was a secondary concern or they thought there’d be higher adoption by now. It also seems like a simple fix, raise charging prices and say why. But maybe either the discrepancy is too big or they’re worried about customer/media backlash.
Or maybe it’s another example of “move fast and break things” running into the real world and not being viable.
The startup cost on their charger stations is pretty high and they typically have a deal with land owners to have them installed, so I doubt they hit break even for years on one bank.
They were aggressive in putting up charging areas to ease the hurdle of charging for potential customers when they were the only viable BEV and sales have slumped pretty badly now, so spending more on chargers at this point is financially unwise. With charger competition ramping up they are not in a great place for the financial aggression needed to have the chargers pay off in any timespan with limited income from car sales.
If they had been of the mindset to corner the charging market, instead of driving sales of their vehicles, they would have had an entirely different strategy and could have had a great steady income off chargers.
- Fired the Supercharger head and the entire department
- Fired the lead of new vehicle development
- Previously fired head of battery development
- Constantly “one year away” from Tesla full self driving, whilst Mercedes just launched geofenced FSD, with Mercedes assuming 100% liability during FSD
- Elon just had a out of the blue trip to China, appears to have ‘kissed the ring’ of Beijing, and hyping TaaS robotaxis
What’s Tesla’s USP to an investor now? The supercharger ‘lock in’ and early head start at the EV game are Tesla’s biggest boons, but the former appears to have been gutted and the latter has been squandered on a slow model release schedule
If the Tesla Board had any responsibilities at all, it was to prevent this by ejecting Elmo. They chose to not.
It is now time to stick a fork in it. Billionaires - Away!
Are they going to give him his $60B bonus now?
Worldwide food shortages are pretty likely this year, but sure, care about “investors”
I actually don’t care about individual investors, beyond the implications for the broader ‘economy’ if the Tesla bubble bursts. But given how absurd the market cap for Tesla is compared to the traditional automakers, when this hype train stops picking up
speedmore rubes, the rest of us need it to coast down gradually, not crash and burn.
Mercedes fsd is pretty bad tho, it’s full self driving basically for marketing reasons. Following one geofenced highway without a problems is not close to full self driving. It does basically what tesla autopilot does but a little better. Not even better in some cases because if I recall correctly it can’t change lanes automatically. Sooo just a marketing from their side
He realised electric cars are popular with libs so in a masterful gambit is destroying his company to own them.
Time to short the stock then, if they are not gonna invest in their own future.
Layoffs tend to precipitate big stock price jumps in my experience. Investors love job losses
They do, to a point.
If it’s a “trim” that is a vague percentage without any standout cuts in recognized people or groups, then good. If there are recognized names or groups, but they are people associated with widely known failures, like a team whose sole responsibility is a proven financial failure, good or even better. If you have people caught up in it who are well recognized for critical successes, then the investors won’t be so bullish.
Here we see two groups seen as responsible for the key success factors of Tesla obliterated, with very little external signs of why this could be a rational move. The other layoffs might have been viewed well, even if some of them were also bad news, but I think these two will be viewed as bad news.
Also, this may be seen as a missed opportunity. Tesla established SC network as the premiere EV charging solution, and made it credibly cover other manufacturers, setting it up as independently valuable with it without Tesala. Tesla ditched the entire team, putting that at risk and taking on expenses to let go of those people for long term salary savings. A different business might have sold off the group intact, not only avoiding severance expense, but also getting a big check in the process from some other company. Keeping the “business” with none of the actual people is a bizarre move.
Amazon has been trimming employee numbers for close to three years now. Any large layoffs now see a dip in stock, so most of the layoffs this year have been small-scale to not worry the investors.
True, at some point investors switch from “good, they are improving efficiency” or “good, they are making way for higher quality hires” to “uhh, is there a problem? Are you going to keep going and risk going under some unknown critical threshold that will impact the health of your business?”.
I imagine the rules are different for Amazon. It’s just a regular corporation not a vanity project.
Nailed it. This round of layoffs is not just “trimming a bloated labor force,” it’s cutting off investment into the future of Tesla as a company, which is a really bad business move when you had an advantage in the past but are now losing it. Turns out not only Musk is a filthy rich a-hole, he’s also terrible at keeping businesses competitive. He absolutely needs to resign if Tesla wants to not fail.
Yeah but the longer term doesn’t looks good.
My dude, never underestimate wall streets ability to ignore tsla failing. They will hold that stock. Shorting tsla is a fools errand. The people who own tsla are immune to reality.
Everything good that tsla owners were banking on has already happened. The gravy days are in the past but… the insane valuation persists.
You cannot short stupidity.
All of which makes the decision to get rid of senior director of EV charging Rebecca Tinucci—along with her entire team—a bit of a head-scratcher. . . . Musk told workers that Tesla “will continue to build out some new Supercharger locations, where critical, and finish those currently under construction.”
Many Tesla fans had been holding out hope that Musk would debut a cheap Model 2 EV in recent weeks. Instead, the tycoon promised that robotaxis would save the business . . .
Delivering on that goal is more than just a technical challenge, and it will require the cooperation and approval of state and federal authorities. However, Musk is also dissolving the company’s public policy team in this latest cull.
Yeah that’s the ballgame.
Musk also told staff that he would ask for the resignation of any executive “who retains more than three people who don’t obviously pass the excellent, necessary and trustworthy test.”
What a complete fuckup of a human. Sad to see so many trusted him. I guess we don’t have direct evidence of him being a serial killer at least.
We can be pretty sure he’s a pedophile though based on his connections to Epstein.
I’m glad I turned down an offer from them back in the day.
Well Musk already has one strike against him for retaining himself. Just need to find two flunky exec yesmen he’s keeping on and he would be fired by his own standard.
That’s one way to stop a union.
The death spiral begins.
Begins? It’s been slowly getting worse for years
Yeah, I think this is the event horizon.
Great movie.
Musk has been reading about all the layoffs happening at other companies who are now floundering due to the loss of institutional competence and memory, and goes “we need some of that shiat STAT!”
Anyone really shocked? Everything he owns is the greatest thing on earth until it isnt. Then he tries to sink it further
