Sunday, January 29, 2023

Tesla isn’t a big tech company, it’s an automaker

2022 is over Tesla Its falling value, poor results and Elon Musk’s obsession with Twitter have led investors to doubt the firm. who came to the conclusion that the company Not Big Tech, But an Automaker According to Economist at Yahoo Finance,

after Tesla’s market capitalization will surpass Toyota’sThen the world’s most valuable automaker, in the summer of 2020, devoted fans and incredulous skeptics implemented a new unit of measurement, As the share price of the electric vehicle (EV) champion soared, Its value was expressed as the combined value of the next two, then five and then ten largest automakers., Tesla’s market value a year ago crossed $1.2 trillion, more than most other car companies combined. since then, he has 72% lost out of that, the amount higher than most industry prices, As a result, the fate of its fickle owner, Elon Muskthis is done A shortfall of over $200,000 million.

happened on the last blow 3 Januaryafter tesla Will miss analysts’ delivery expectations for third consecutive quarter And pointed out that the gap between production and deliveries has widened, suggesting a decline in demand for its electric vehicles. lost 12% of its value, about $50 billion, or a Ford Motor Company, In one day. Even more bullish investors Now they suspect that Musk Fulfill its promise to make 20 million cars a year by 2030or that Tesla’s “Autopilot” Is Closer to Becoming a Fully Autonomous Driving System that will change the world. However, the main reason for the market recalibration of Tesla’s outlook The nascent realization that the company is primarily a carmakerAnd that his boss is not a supernatural being.

Musk has always seen his company as a technology company.Some digital giant like Alphabet, Apple or Meta, not an old economy metal thumper like Toyota or Volkswagen. For a while, the market did just that, first when Tech stocks soar amid pandemic-era boom in all things digital, well after they fell last yearAfter its growth slowed and higher interest rates promised future earnings seem less valuable today.

However, in recent months, Tesla’s share price has improved significantly compared to Big Tech, it matches with them More Earthly Tribulations as a Car Business, After managing to avoid the worst of the pandemic’s supply chain disruptions, Tesla finds itself in the throes of a crisis China’s chaotic retreat from its zero covid policy, Its large factory in Shanghai has been hit by virus-related shutdowns. And after setting the course for the industry’s EV transformation, it now faces considerable competition from established rivals and a host of newcomers. Days after Tesla reported disappointing numbers, Volkswagen presented its ID.7, a challenger to Tesla’s entry-level Model 3 sedan.

loss electric vehicle buyersfor their part, are Less willing than early adopters to overlook Tesla’s questionable build quality and very cheap car interior, And this natural owner Tesla’s wealthy are in a progressive group Twitter less willing to ignore Musk’s moderate anticsWhich they bought in October and have happily mismanaged, especially now that they have plenty of conscience-saving EV options to choose from.

Tesla, in other words, is no longer the only game in town, and it certainly isn’t a tech giant. However, as EV makers go, it still looks impressive. In 2022, it delivered 1.3 million cars, up 40% from the previous year, and opened two new assembly plants, he is working on a small and cheap car And this year it will start deliveries of its long-awaited van Cybertruck. and is still $340 billion worthalmost as low as three largest automakers combined,

Tesla 09 01

TeslaThe week closed at $113.51 and remained above the 70 and 200 period moving averages. Meanwhile, EI indicators are mostly bearish.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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