![]() But the pickup will arrive long after competing products from Ford, Rivian and General Motors. The company has promised to begin selling its long-awaited Cybertruck in 2023. In an industry that thrives on new products, Tesla has not introduced a new passenger car since the Model Y, a sport utility vehicle, in 2020. In Europe, Volkswagen and its subsidiaries like Audi already sell more electric cars than Tesla, although Tesla’s Model Y and Model 3 remain the most popular all-electric vehicle models. In China, Tesla faces a stiff challenge from local manufacturers like BYD, which this year stopped making internal combustion models to focus solely on electric vehicles and has surpassed Tesla in the number of cars sold. Competition will intensify this year with the introduction of models like the Cadillac Lyriq and the Nissan Ariya. ![]() In the United States, electric vehicles from Ford, General Motors and Hyundai have chipped away at Tesla’s lead. (Nelson added that he disagreed with that view.)Īnd now that the traditional automakers are selling credible electric vehicles, Tesla no longer has the market to itself. Musk “has such a large personality, the impression is that the company is weak without him and that nothing happens without his approval,” said Garrett Nelson, a senior equity research analyst at CFRA, an investment research firm. The company’s website lists only three top executives: Musk Zachary Kirkhorn, the chief financial officer and Andrew Baglino, a senior vice president responsible for engineering. As co-founder, CEO and largest shareholder, Musk is able to make decisions quickly and has built a big lead over traditional carmakers in battery technology and software.īut it is unclear who is minding the store while Musk tries to remake Twitter. Musk personifies Tesla as much as Henry Ford once personified the carmaker that bears his name. and Daimler AG to answer with their own electric models. Tesla’s success forced carmaking giants like General Motors Co., Ford Motor Co. Musk remains widely admired in the auto industry for the way he proved that battery-powered vehicles could be stylish, fun to drive and profitable. Tesla did not respond to a request for comment. Managing Tesla “is not a part-time job in these volatile and challenging times,” said Axel Schmidt, a senior managing director at Accenture who oversees the consulting firm’s automotive division. On Tuesday, Musk said he would resign as CEO of Twitter “as soon as I find someone foolish enough to take the job!” But he also said he would continue to manage the team responsible for software and servers. Last weekend he asked users of the service in a “poll” whether he should step down as Twitter’s CEO, saying he would abide by the results. ![]() Yet Musk has been preoccupied with Twitter, a company he concedes he bought at an inflated price. Now the cars are available within days, which analysts see as a sign of weaker demand. Only a few months ago would-be buyers had to wait months for a new Tesla. Read | Tesla to freeze hiring, lay off employees next quarter: ReportĪs interest rates rise and a global recession looms, demand for Tesla vehicles appears to be slackening. ![]() Covid-19 restrictions and dysfunctional supply chains, a problem for all carmakers, have led to intermittent shutdowns at Tesla’s factory in Shanghai. Tesla is straining to ramp up production at new factories in Austin, Texas, and outside Berlin. And a distracted CEO seemingly bent on alienating some of the company’s most loyal customers.Ī growing list of problems at Tesla, the world’s most valuable car company, is puncturing its mystique as the segment’s technology leader, leading analysts and investors to question whether it can continue to dominate the market for electric vehicles.Īt the center of investors’ concern is CEO Elon Musk, whose high-profile purchase of Twitter has overshadowed his Tesla role at a critical moment in the automaker’s relatively short history. Production headaches on three continents. ![]()
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