You can’t rely on Tesla. Instead of finally filing for Chapter 11, Tesla is making a profit of 143 million dollars (128.45 million Euros). Per share the profit was 1.86 dollars (1.67 Euros) instead of the with absolute certainty expected loss of 42 cents (38 Euro-Cents). At least Tesla didn’t meet the revenue expectations, because then we’d really lose all hope. Instead of the expected 6.517 billion dollars in revenue that Wall Street predicted, Tesla only made a pitiable 6.3 billion.
Totally unreliable are also the plans and schedules for the Model Y production start and the Gigafactory 3 in Shanghai. Tesla plans to ship the first compact SUV Model Ys already in summer 2020. Damn! How is BMW supposed to catch up when they plan to bring their new generation electric vehicles on the market earliest in 2021 maybe perhaps eventually?
The Gigafactory 3, which was a muddy field at the beginning of this year has received the operation license from the Chinese regulators. Don’t tell that the people from the California high-speed train project or the folks from the Berlin airport BER. After 10 months they didn’t even have all the appointments with the agencies and knew, whether they are constructing an airport or a model train set. 13 years later they may perhaps now have some idea what they wanted to do, but who really knows?
Tesla also published first pictures from inside the Gigafactory. Not at all comparable with the state-of-the-art factories of our carmakers, of course. Now we understand why the gap measures happen!
Given the disappointed expectations, the share price rrightly went up 17 percent after market close. Investors have to have strong nerves. But Tesla first and foremost has to prove that there is even enough electricity for all the cars.
Here is the glossy brochue with which Tesla aims to cover their chaos. That’s not gonna work that way.
This article was also published in German.