Thanks for commenting. Ford and GM, and of course Fisker and Rivian, have been widely reported as losing thousands on every BEV (battery electric vehicle) sold, but so far, I haven't seen any reports that Tesla is actually selling EVs at a loss, although it's getting close. They might be losing on the trucks; I haven't seen a breakdown between the cars and the trucks. Stellantis says their EV sales in Europe are making a profit, but I'm having trouble believing it. Their stock dropped about 20% in the last few weeks after reporting declining revenues.
Very interesting article. The author takes pains to explain that the EV chargers will move forward regardless of whether Tesla does it or not. I don’t know what Musk is thinking to make this abrupt about face with Tesla’s charging infrastructure but it does seem very odd because there is all sorts of government funding sloshing around. If they can’t make it work with that, how can it work?
Very good question - "How can it work?" Chargepoint, which was once considered a great investment in the EV charger business, has gone from a high of $36 in June '22 to $1.66 last week.
My research tells me every EV sold in 2023 was at a loss between $35k and $132k. This is after IRA investments, subsidies and mandates. The industry IS Solyndra, with no exceptions.
All EV makers are reducing their production staffing by a minimum of 1/3 to 1/2. Overhead spread went from ugly to uglier. If Tesla was making a profit per vehicle, we would be hearing about it. I believe they claim to be losing around $32k/unit AFTER all of the government subsidies.
Not certain any additional moves by Tesla are a further setback, but rather all symptomatic of losing money on every unit sold.
Thanks for commenting. Ford and GM, and of course Fisker and Rivian, have been widely reported as losing thousands on every BEV (battery electric vehicle) sold, but so far, I haven't seen any reports that Tesla is actually selling EVs at a loss, although it's getting close. They might be losing on the trucks; I haven't seen a breakdown between the cars and the trucks. Stellantis says their EV sales in Europe are making a profit, but I'm having trouble believing it. Their stock dropped about 20% in the last few weeks after reporting declining revenues.
Very interesting article. The author takes pains to explain that the EV chargers will move forward regardless of whether Tesla does it or not. I don’t know what Musk is thinking to make this abrupt about face with Tesla’s charging infrastructure but it does seem very odd because there is all sorts of government funding sloshing around. If they can’t make it work with that, how can it work?
Very good question - "How can it work?" Chargepoint, which was once considered a great investment in the EV charger business, has gone from a high of $36 in June '22 to $1.66 last week.
I think we’re seeing this in a lot of the EV industry and its offshoots. Yesterday I was reading that Rivian lost massive amounts of money in 2023.
My research tells me every EV sold in 2023 was at a loss between $35k and $132k. This is after IRA investments, subsidies and mandates. The industry IS Solyndra, with no exceptions.
All EV makers are reducing their production staffing by a minimum of 1/3 to 1/2. Overhead spread went from ugly to uglier. If Tesla was making a profit per vehicle, we would be hearing about it. I believe they claim to be losing around $32k/unit AFTER all of the government subsidies.
Your source?