Saturday, January 28, 2023
Buy EV Domains
Online EV
Shop eBikes & EV chargers On Amazon
  • Home
  • Shop
    • Buying Advice
      • EV Chargers
      • eBikes
      • Solar Panels
      • EV Accessories
      • Electric Scooters
      • Solar Generator
  • Videos
  • Buy
  • Sell
  • Charge
    • Charge EV Map
  • Finance
  • Insure
  • Park
No Result
View All Result
Online EV
No Result
View All Result

Tesla’s transition from high-flying tech company to regular automaker

Dr.Ev by Dr.Ev
01/26/2023
in Flying EV
278 6
0
136
SHARES
1.2k
VIEWS
Share on Twitter


Tesla CEO Elon Musk departs court in San Francisco on Tuesday. Photo: Marlena Sloss/Bloomberg via Getty Images

As Tesla becomes a bigger, more mature company, it’s increasingly doing things by the book — rather than going against the grain.

Why it matters: Tesla has long stood head and shoulders above the crowd in the electric vehicle industry, effectively directing the current.

You might also like

Flying members by Jameela Nishat and Katharina Holstein at Hyderabad Literary Festival

Tesla share price rebounded 50% from lows in just 1 month. Here’s why the stock is flying high

Best Auto News From CES 2023: Electric Pickup Trucks, Flying Cars and More

  • Now, the company is increasingly flowing with the current — and that means it’s looking more and more like a traditional automaker as it grapples with demand challenges, increased competition and choppy market conditions.

State of play: In its fourth-quarter earnings on Wednesday — Tesla reported record profit and revenue — the company signaled that it’s stepping back from some if its high-flying tech company ways:

  • It’s juicing demand by lowering prices, not unlike how traditional automakers use incentives to boost sales.
  • It’s emphasizing the need for cost prudence, not unlike how mature automakers are constantly looking to trim the budgetary fat.
  • It announced plans to move away from its tradition of bunching vehicle sales toward the end of each quarter — a strategy it often deployed to meet or exceed sales targets, but which had a punishing effect on workers who had to scramble to deliver vehicles. (Traditional automakers don’t drastically ramp up sales efforts at the end of each quarter.)

The impact: Tesla’s recent round of price cuts — averaging $10,000 per vehicle in the U.S., according to Evercore ISI — have stoked demand, CEO Elon Musk said on the company’s earnings call.

  • “We currently are seeing orders at almost twice the rate of production,” he said. “Price really matters.”
  • He added that he could envision Tesla making 2 million vehicles in 2023 — compared with 1.37 million in 2022 — if the world avoids major disruptions.

Keep in mind: Tesla kicked off the EV revolution — and Musk has long stated that his goal was to achieve sustainable energy for the world, even praising competitors who join the mix.

  • Now it’s happening: competition is heating up from the likes of General Motors, Ford, Volkswagen, Hyundai, Rivian and Lucid.
  • In the U.S., Tesla’s share of new EV registrations in November 2022 (the last month available) was 57.1%, down from 77.8% in November 2021, Axios’ Joann Muller reports.

Where Tesla is not so normal as an automaker is in Musk’s stature as a lightning-rod for controversy — the company’s image has sagged since he announced he wanted to buy Twitter.

  • But Musk suggested he’s not concerned about his Twitter leadership affecting Tesla, and gave no indication that he would turn over the reins to anyone else anytime soon.
  • “Let me check my Twitter account,” he said. “I’ve got 127 million followers, and it continues to grow very rapidly. That suggests that I’m reasonably popular. I might not be popular by some people, but for the vast majority of people my follower account speaks for itself.”
  • He added that “Twitter is actually an incredibly powerful tool for driving demand for Tesla.”

What’s next: More products, which analysts say are crucial because Tesla’s vehicle lineup is aging.

  • Musk said the company’s long-awaited Cybertruck would begin production as soon as this summer.
  • And the company said it will provide “additional details” about “our next generation vehicle platform” on March 1.



Source link

Tags: AutomakerCompanyHighflyingregulartechTeslastransition
Shop Shop
ADVERTISEMENT
Previous Post

Your Guide to the Blink EV Charging Network

Next Post

MightyFly Unveils Its Second-Generation eVTOL

Dr.Ev

Dr.Ev

Related Posts

Flying members by Jameela Nishat and Katharina Holstein at Hyderabad Literary Festival

Flying members by Jameela Nishat and Katharina Holstein at Hyderabad Literary Festival

by Dr.Ev
01/27/2023
0

Flying members by Jameela Nishat and Katharina Holstein at Hyderabad Literary Festival We use cookies for analytics, advertising and to...

Tesla share price rebounded 50% from lows in just 1 month. Here’s why the stock is flying high

Tesla share price rebounded 50% from lows in just 1 month. Here’s why the stock is flying high

by Dr.Ev
01/27/2023
0

Something unusual happened when markets finally started trading Tesla shares following the release of quarterly results after the bell on...

Best Auto News From CES 2023: Electric Pickup Trucks, Flying Cars, and More

Best Auto News From CES 2023: Electric Pickup Trucks, Flying Cars and More

by Dr.Ev
01/27/2023
0

CES is so much more than just a trade show for the latest televisions, phones and wacky tech. It's also one of the...

Flying on a 2-seater electric scooter

Flying on a 2-seater electric scooter

by Dr.Ev
01/26/2023
0

Razor is no latecomer to the micromobility world, having produced awesome scooters for over two decades now. Following on the...

Next Post
MightyFly Unveils Its Second-Generation eVTOL

MightyFly Unveils Its Second-Generation eVTOL

Related Post

Low-key Auto Expo lacked large players, clarity on future tech

Low-key Auto Expo lacked large players, clarity on future tech

01/11/2023
Gaikindo Responds to Govt Target of 1mn Electric Cars Production in 2035

Gaikindo Responds to Govt Target of 1mn Electric Cars Production in 2035

11/25/2022
Porsche Taycan makes history, Honda unveils new EVs, and more…: The EV Resource Podcast #81

Porsche Taycan makes history, Honda unveils new EVs, and more…: The EV Resource Podcast #81

01/21/2023

Category

  • Buying Advice
  • Electric Cars
  • EV Charging
  • EV Comparisons
  • EV History
  • EV News
  • eVtol
  • Flying EV
  • Future EVs
  • Tesla
  • Videos

Recent Posts

Cheapest long-range electric car! Cupra Born 2023 review | Watch out, BYD Atto 3 and Tesla Model 3

01/28/2023
Toyota dedicated EV platform may be five years off

Toyota dedicated EV platform may be five years off

01/28/2023

Categories

  • Buying Advice
  • Electric Cars
  • EV Charging
  • EV Comparisons
  • EV History
  • EV News
  • eVtol
  • Flying EV
  • Future EVs
  • Tesla
  • Videos

Follow Us

Recommended

  • Cheapest long-range electric car! Cupra Born 2023 review | Watch out, BYD Atto 3 and Tesla Model 3
  • Toyota dedicated EV platform may be five years off
  • Audi EV G-Wagen Rival Coming in 2027 on Scout Truck Chassis: Report
  • Charged EVs | EV charging station data provider Eco-Movement closes Series A funding round
  • Musk Says Only Some “Smart” Investors See Value Of Tesla’s FSD

© 2022 Online EV

No Result
View All Result
  • Home
  • Shop
    • Buying Advice
      • EV Chargers
      • eBikes
      • Solar Panels
      • EV Accessories
      • Electric Scooters
      • Solar Generator
  • Videos
  • Buy
  • Sell
  • Charge
    • Charge EV Map
  • Finance
  • Insure
  • Park

© 2022 Online EV

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In