[EaglesPDX]

The source is a bunch of quotes from Trump...er...Elon Musk about competitors who are kicking Tesla's butt with better cars?

 

[joshtish]

Yeah I mean, the problem is that he’s an incredibly informed person, but also incredibly biased. That said, the companies on my ”concerned” list are Lucid, Canoo, and Lordstown.

Rivian will survive 2023 and 2024. EVERYTHING about their future beyond that hinges on them finding a great rhythm in the supply chain and executing on manufacturing next year. This quarter should be a good indicator of whether they’ve found that, or whether it’s shortly on the horizon. I’m optimistic (he says, as he drives around his Rivian truck).

 

[iansriv]

I used to like Musk, until he made a recent purchase under duress.

 

[EaglesPDX]

That said, the companies on my ”concerned” list are Lucid

Lucid makes money selling its luxury electric cars. The company is not yet profitable, but Lucid believes profitability is not too far out of reach. The company expects to turn profitable on an adjusted EBITDA basis in 2024, followed by free cash flow positive the following year.

 

[lefkonj]

Since this post was posted on several forums I will just recycle what I said elsewhere....

if all the other companies got as many tax incentives as Tesla I am sure they would be fine. People forget how much help the company got, especially from California

 

[Joelster]

Since this post was posted on several forums I will just recycle what I said elsewhere....

if all the other companies got as many tax incentives as Tesla I am sure they would be fine. People forget how much help the company got, especially from California

Right. Tesla turned its first profits by selling its accrued emissions credits to other companies, not by selling cars.

 

[Jimi]

Elon Musk is sounding the alarm on Lucid Motors, saying "they are not long for this world", pretty much saying that they might be about to die. Do you think Musk is right? Are there other EV startups you think could go down with Lucid as well?

Elon Musk Again Says He Thinks Lucid Will Go Under

It’s not the first time the Tesla founder has expressed such views, criticizing Lucid’s business model and direction.

insideevs.com

Elon Musk says Tesla-rival Lucid might be about to die

Elon Musk implies that Lucid Motors, an electric vehicle startup that spun out of Tesla, might be about to die.

electrek.co

Tesla’s Elon Musk sounds alarm on Lucid: "They are not long for this world"

Elon Musk posted his thoughts on Lucid on Twitter, where it received much attention from the electric vehicle community.

www.teslarati.com

Musk knows he has very stiff competition from Lucid who are producing vehicles far superior to his. Not sure I believe anything he has to say these days!

 

[Yossarian]

If memory serves, Elon sounded a similar "alarm" regarding Rivian's long-term prospects several months ago. It's true that Rivian is not without issues, and it's undeniable that the company will not be profitable for some years. The company does however have a substantial, legitimate order book, reasonably competent executive management, high-profile backers committed to the company's success and perhaps most importantly, good access to capital. It's long-term success is not a sure thing, but the prospects are more than decent. I'm not sure if if Lucid has similar assets and suspect it's long-term success is less certain than is Rivian's, but quit frankly, the company whose success seems to be heading to the "Questionable" category the fastest is Tesla.

It's tempting to chalk up this new remark regarding Lucid to Elon's self-serving, PT Barnum-like streak, but at this stage, his behavior has become so erratic and outlandish that it is now self-destructive. The precipitous drop in TSLA share price is due in large part to Elon; his increasingly outlandish behavior coupled with pronouncements that are more and more ridiculous are only part if the problem. His sale of large amounts of his own Tesla stock, the most recent contrary to a promise made after selling a large stake earlier in the year, is probably the bigger culprit in the recent precipitous TSLA share price decline. Elon has again promised not to sell more TSLA stock, but at this stage, his credibility is, shall we say, suspect. With Tesla sales for 2022 likely to be lackluster, and competition from other makers like the recently disparaged Lucid Motors increasing substantially, investors are unlikely to bid TSLA up, at least in the short term.

If Elon comes to his senses, and concentrates on improving Tesla quality rather than starting Twitter wars and trashing competitors, perhaps the stock price will stabilize or even increase. It's a decent bet that none of that will happen however, and shorting TSLA may now be the better strategy.

 

[atebit]

Right. Tesla turned its first profits by selling its accrued emissions credits to other companies, not by selling cars.

Make cars/sell cars/profit
Make cars/accrue carbon credits/sell carbon credits/profit

what’s the difference?

 

[EaglesPDX]

Make cars/accrue carbon credits/sell carbon credits/profit

Except that was make cars/accrue carbon credits/ No profits.

 

[TxChuck]

I don’t know about Canoo!

Lordstown is now owned by Foxconn who manufacture electronic products for major American, Canadian, Chinese, Finnish, and Japanese companies. Notable products manufactured by Foxconn include the BlackBerry, iPad, iPhone, iPod, Kindle, Nokia devices, PlayStation 4, Wii U, and Xbox One. They not going bankrupt.

Lucids major shareholder is the Saudi Arabian PIF or Public Investment Fund. Basically rich Saudi families. They building a plant in SA. Not going bankrupt anytime soon.

Rivian have 214,000 orders worth about $15billion plus $11bill in the bank. When the R2 program starts that will boost high volume production much like the model 3 did for Tesla.

 

[Gabe1Aron]

Due to his erratic and increasingly insane behavior, Elon has lost credibility. I once put a lot of stock in what he had to say. No more. Lucid has lots of challenges ahead but as mentioned above, being part owned by the Saudis will help bouy the balance sheet substantially and give them a lot of breathing room while they ramp up

 

[atebit]

Except that was make cars/accrue carbon credits/ No profits.

Agreed; just extrapolating on @Joelster ‘s post.

But net-net, less loss is better than more loss in n overall less-than-zero sum game.

 

[Geraldine]

I think Elon is incredibly jealous of Peter Rawlinson and the fact that the Lucid now goes faster than the fastest Tesla :

 

[bradyb23]

. . . the Lucid now goes faster than the fastest Tesla . . .

That was an enjoyable watch. Thanks for posting.

 

[iansriv]

Due to his erratic and increasingly insane behavior, Elon has lost credibility. I once put a lot of stock in what he had to say. No more. Lucid has lots of challenges ahead but as mentioned above, being part owned by the Saudis will help bouy the balance sheet substantially and give them a lot of breathing room while they ramp up

Just read this:
“Elon Musk has a pathological problem with the truth,” said Gordon Johnson, one of the largest critics of Tesla among analysts. “When people say he’s a genius and innovator, it’s based on all his promises he never lives up to.”

 

[EaglesPDX]

“When people say he’s a genius and innovator, it’s based on all his promises he never lives up to.”

Well no, it's based on his delivering compelling EV's and commercial rocket ships.

 

[lanscoeng]

Well no, just anther guy exploiting earth to satisfy he’s ego.

 

[Canyonero!]

Elon is a narcissist who doesn't want to see anyone else succeed in the EV market.

He probably believes that he invented EVs.