this post was submitted on 19 Apr 2024
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Interesting read. I did not realise that they need 100B usd to cover the next 4 years. They burn cash very fast. Their vertical integration factories can bite back very hard if they can't keep up demand. So much for Tesla schooling The rest of the industry on how to build cars.. maybe the old dogs do know something after all..
I hope it goes well and they figure something out, oustin Mr Musk from the company seems like the best short term decision to save the company long term and definitely not paying the 55b usd bonus, that sounds more and more like an exit strategy for Mr Musk.
They have a strong brand, and had a strong lineup just a few years ago.. I think they can figure it out. They will wipe out many peoples 401ks if they go bankrupt, that will be ugly for everyone involved, and 140 000 people will loose their jobs
Lol Tesla schooling the car industry on how to make cars? That's never been the case and only marketing talk.
After Musk bought into Tesla, he pushed very hard for fully automated factories, even though everyone said it couldn't be done. Now this isn't just people being negative, they said it couldn't be done because existing car brands already had very highly automated factories at the time. They put in billions each year to improve their factories, but there were issues that were too hard to solve.
But Musk being Musk pushed on anyways and almost destroyed the company. Factories had issues across the board from simple volume, to scheduling, to quality and downtime. And this was with full disregard to safety and hours of the staff working there. In the end they needed to do something or the company would go bust.
So they made a deal with Toyota to basically buy an entire Toyota factory. In the industry Toyota is known as one of the best brands when it comes to this kind of thing. Their factories are highly automated, run like clockwork and produce good quality without a lot of costs. This saved Tesla, allowing them to actually produce cars and not go bust. They started to deliver on volume promises which was desperately needed at the time.
In the end the Toyota partnership was short lived, with Toyota pulling out. But Tesla still has that factory and based the rest of their factories on that one. The push for fully automated factories stopped and for a while it was run like a sane company.
So no Tesla never schooled anybody and were almost destroyed by the effort. But as the saying goes, that isn't a story the Musk fanboys would tell you.
Recently Musk's terrible financial decisions have almost destroyed Tesla and the company will probably be sold within the next 2 years.
Toyota and Volvo are both adopting giga press in future manufacturing. Don't act like Tesla has done nothing.
You know they bought those and not invented right?
Of course, they were just the first people to use it, and for making cars.
That's innovation whether you give them credit for it or not.