At his peak, he owned about a quarter of the company, but his stake is down roughly 40 percent from that. This year alone, he has sold nearly $40 billion - with a b - in Tesla shares. It hasn’t been even two months that Musk has outright owned Twitter, but it’s clear the social network is already an albatross around the neck of the world’s second-richest man. So on Wednesday evening, when securities filings were made public that showed he had sold another $3.5 billion worth of stock (equivalent to 22 million shares), it became clear that he has brought himself ever closer to losing control of the company that’s the source of his wealth and power. In that sense, Tesla is only about 13 percent Musk with the vast majority of its shares held by Wall Street giants such as Vanguard and BlackRock as well as millions of individuals who want to make a quick buck or pad their retirement. But who cares about that? What matters, on a business level, is its corporeal form: Tesla is a publicly traded company. He is the sensitive, trollish soul of the company, the force behind its monumental success and its more recent 60 percent fall in value. There is no doubt that Tesla, Inc., is Elon Musk, at least on a spiritual level. Photo: Christian Marquardt - Pool/Getty Images "Most EV makers around the globe have been forced to raise prices by a few thousand dollars to cope with the rising prices of battery-related raw materials," the report noted.Elon Musk at the official opening of a new Tesla plant in Germany this year. The soaring prices of some key battery components like nickel and lithium have put the auto OEMs in a spot. Besides, Tesla could also be conducting research on developing new battery chemistry," Mukherjee added. "The urge to achieve L4 autonomy by the end of 2023 and to roll out robotaxis by early 2025 can be a major reason for Tesla's big R&D spend. Tesla has also started deliveries to car rental service provider Hertz against its huge 100,000-vehicle order, which is also a reason for high vehicle production and delivery during the quarter. During Q1 2022, the company delivered more than 300,000 units of vehicles, an increase of 68 per cent (YoY). In the first quarter of 2022, Tesla reported record revenue of $18.8 billion and grew its deliveries. "This might play against the sentiment of new customers, which will, in turn, affect the next quarter`s financials," he added. The rising cost of a few key raw materials and inflationary impact on production have pushed Tesla to increase its vehicle prices worldwide a couple of times. It mostly operates in the high-to-premium price band, whereas the traditional OEMs are planning to launch vehicles in the budget segment," research associate Abhik Mukherjee said. "The reason behind this is the price band in which Tesla operates. Though it will be difficult for them to overtake Tesla sales any time soon, Tesla will witness a reduction in its share across major markets, according to Counterpoint Research. Within a couple of years, Tesla will face strong competition from traditional automakers like Volkswagen, Toyota and Stellantis, which released their ambitious vehicle electrification plans last year, a new report said.
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