There is no keener symbolism of the woes of Elon Musk’s Tesla than the fact that it was overtaken in size last Friday by America’s largest oil company, ExxonMobil.
And the qualities that made Musk so appealing in the past – such as his precociousness and his willingness to challenge the status quo and defy business convention – are now becoming a liability as his company has moved well beyond upstart to a more mature business. He says the global EV landscape has turned Tesla “from a Cinderella story to a horror show in the near-term”.Credit:The market is losing patience with Musk’s antics and his disdain for the convention of companies keeping their shareholders abreast of the strategy for increasing growing revenue and earnings.
Indeed, one of many concerns voiced by Tesla shareholders is the distraction posed by ownership of X It is being hammered by increased competition coming out of China and has continued to respond by cutting prices. It slashed prices of three of its five models in the US late on Friday, then cut prices around the globe – including in China and Germany.Loading
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Source: GuardianAus - 🏆 1. / 98 Read more »