According to a comprehensive foreign news report, Tesla CEO Elon Musk recently admitted that his performance in China was not good, and Tesla's share price plummeted. According to Musk’s shares, his personal property was reduced by $480 million within one hour of his speech. High Speed Plasma Cutting Machine
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Admits Poor Performance in China Musk 3 billion Evaporation On January 13, Musk said in Detroit's Automotive News World Congress that Tesla may not be profitable by 2020 In addition, in the fourth quarter of last year, Tesla's sales in China were weak and exceeded expectations. Musk believes that Chinese urban consumers have misunderstandings about electric vehicles, and the latter regards electric vehicle charging as a problem.
To this end, Musk expressed his confidence in the situation in China: "We will solve the problem in China, and it is very likely that we will be able to recover well in the middle of this year."
After Musk’s remarks, Tesla’s stock price on the New York Stock Exchange (then the after-hours price) dipped sharply, from $204.25 to $190.22 in less than an hour, down $13.75 or 7%. . In contrast, Tesla's share price rose by about 48% in 2014, reaching $279.20 on September 7 last year.
According to the Tesla shareholder statement, Musk currently holds a 27% stake in Tesla, or 35 million shares. Foreign media pointed out that this means that after the above comments, Musk's personal property evaporated by $ 481 million. According to the latest exchange rate, it is about RMB 3 billion.
On the 16th, Tesla shares rebounded 0.6% to $193.07, and Musk held a value of $7.66 billion. Forbes magazine estimated that Musk’s personal property was $7.5 billion, ranking 173th on the global rich list.
According to previous reports from Gasgoo.com, in 2013, Musk also had high hopes for the Chinese market, and soon China would replace the US as its largest single market and contribute one-third of global sales. However, Tesla's business in China is not progressing smoothly. First, there is a delay in delivery of vehicles, and the construction of dealerships is slower than expected. After that, Tesla also experienced a slow sales growth and a backlog of inventory.
At the end of last year, Tesla's global vice president and president of China, Wu Bijun, left the company and was picked up by Zhu Xiaoyu, director of Tesla China Super Charging Station. This personnel change is also seen as one of Tesla's poor performance in China.
Production and sales of millions of vehicles?
Although the Chinese market did not expand as expected, Musk still threw out the words that Tesla will explode in geometric progression. In 2013, Tesla's global sales volume was approximately 32,400 units. Musk expects to achieve a production and sales scale of 500,000 units by 2020. This time, it even said that by 2025 Tesla could reach the level of “millions of electric vehicles†with an annual output of “Millions of electric vehiclesâ€.
Mask said that after several delays, the Model X electric SUV will be launched in the summer of 2015; the Model 3/III low-cost entry-level electric vehicle manufactured around 2017 will be the key to the large expansion of Tesla. The Model 3/III price and cruising range are half of the current model S, which is equivalent to the price of the BMW 5 Series and Nissan Leaf Electric.
Foreign media believes that if Tesla achieves an annual production and sales of millions of vehicles, it will be the same level as the Fiat Chrysler Automobiles FCA (Fiat Chrysler Automobiles) and other car giants, so the difficulty can be imagined.
More and more automakers are also building electric vehicle products that will compete with Tesla for the share of the new energy vehicle market. For example, at the recent Detroit Auto Show, General Motors unveiled its third electric car, the Chevrolet Bolt, with a cruising range of 320 kilometers. Many media believe that Bolt will become a competitor of Model 3/III.
Musk commented that Bolt is unlikely to compete with Model 3/III. "If some companies make hundreds of thousands of electric cars a year, it will not affect us. But I would love to see other companies also make electric. car."
