Tesla - The story so far, and whether they'll survive...
Ever since July 2003, Tesla has been built on the main aim of manufacturing and delivering electric vehicles which have zero carbon emissions.
The first thing to note is how rich the current CEO Elon Musk is. Musk's current net worth is almost $70 billion (USD), this is mainly due to a combination of holdings in both Tesla and Space X, the latter of these two recently flew 2 NASA astronauts into space.
Tesla's fleet of electric cars are more expensive upfront compared to normal petrol/diesel cars, but they are often cheaper to run. But then again, they are a lot more expensive to maintain than regular cars, and we mean A LOT... A repair might run your bill into the 5 figure mark, simply because there are only limited repair centres that cater for Tesla. Such a large demand with a short supply leads to extortionate repair prices.
The cheapest Tesla? The Model 3...
A great electric car with a 200+ mile range for every charge, and a price tag of just under $40,000 (USD). As you can see, it isn't a bargain, but it isn't a luxury price
You get auto pilot for that price, which is good enough in itself. Self driving is one Tesla's USPs (Unique selling points), and the electric car market has grown very quickly since the turn of the decade, with Tesla selling around a million units since 2012. Although that might not seem like a lot, it is enough to get Tesla top spot on global news...
With coronavirus taking charge this year, we have seen factories close (Including Tesla's), leading to reduced consumer confidence in production industries. Despite this, Tesla is a huge tech stock, and it has been at the centre of attention as it is ultimately a car model that will be in huge demand when climate change is taken more seriously.
Tesla's stocks have reached all time highs, with back-to-back bull runs taking the share price past $1500 (USD), this tech stock boom is the first of many, but this bubble might be about to pop.
We have to remember that Tesla has never made a profit, and until it does, it is just a car maker that sells its models below cost. Tesla is a loss making business, but a really good one, with the expectation that if it were to ramp up production, and find ways to bring down its costs, it could easily become one of the most successful car manufacturers of the 21st century.