Posted on 11/04/2017 7:34:24 AM PDT by jerod
Didn't help that the automaker's financial results also sucked
Tesla's share price took a dive Thursday morning as Republicans in Congress revealed they were planning to kill off a US federal tax credit for electric vehicles.
The proposed House tax bill calls for an immediate repeal of the $7,500-per-vehicle credit: something that would have an immediate knock-on impact for Tesla given that it only produces electric cars.
Its share price fell more than seven per cent to about $296 apiece from Wednesday's $321. The draft law emerged as the Elon-Musk-led automaker announced its worst-ever quarter, recording a $671m loss and admitting it had not met its production target for its new Model 3 car, producing just 220 of them against its 1,500 target.
Economists believe that the tax credit is a key driver for electric car sales, and cite the example of when the state of Georgia cut its $5,000 tax credit and saw sales of electric cars slump from 1,400 a month to just 100 a month in response.
Tesla’s big mistake with selling George Westinghouse his patents was to take deferred compensation in the form of stock options. When Edison’s cronies drove Westinghouse stock into the ground in a bid to take over Westinghouse, Tesla was ruined.
Sorry you took offense at my humor. True, I don’t own a Tesla, but I have looked over any number of them, and the fit and finish on their aluminum bodies is better than both the high-end Japanese and European vehicles. At least those are my observations. I’m and IC engine guy, so they are of no consequence to me as a customer.
We have a Tesla; it’s a very nice car, but in the end all it’s doing is moving the exhaust from the tailpipe to the smokestack. Plus, on long trips you’re tied to the Tesla supercharging stations and the availability of open slots. Heard that after the eclipse was over, all the Teslas going back to California from Oregon had to wait 3-4 hours for open slots at each charging station on the way back home! My personal preference is IC or hybrid and the plethora of gas stations everywhere, with only 5 minutes to fill the tank.
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Tesla definitely was not a failure.
He was a physicist, not an entrepreneur.
Notably it is his work and plans that we employ today to distribute electricity.
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Hybrid is not a way of producing power; just a way of transmitting it.
It would be the best way were it not for the storage problem, which will never be overcome.
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Was Westinghouse ruined, too?
New Nissan Leaf 2017 $37K (austin TX, today)
Used Leaf - 2015 $11K - same place and time.
Ouch.
Used, dead batteries are worth money. Most are turned in for recycling.
Most people bashing Teslas have never driven one.
“Was Westinghouse ruined, too?”
Nope. He f**ked Tesla too.
There is no reason to continue building, or even operating, conventional nuclear plants. The only reason they were preferred was to produce fissionable materials. Molten Salt Reactors ( https://en.m.wikipedia.org/wiki/Molten_salt_reactor ) provide all the benefits of traditional nuclear plants without the risks or waste.
The other significant aspect is size and distribution— these could be situated in every neighborhood— reducing single-point-of-failure designs and reducing the impact of terrorist attacks.
Musk has propped his stock up with government mandates.
I used to play in ethanol. Had a great time. Loved the work. Got tired of being a government employee without the benefits.
When Tesla did a mass layoff of 700 people for “performance”, I suspected that it was something more. His cash burn rate is high, and his sales low. He is banking on the EV mandate.
I’m aware of normal ignition batteries and the exchanges made.
I’m thinking Prius and other EV batteries are not the same, and require different protocol. But then, I don’t really know.
What he needed was a partner to run his business while he got on with inventing things.
Yes, there are many newer designs to choose from now relative to the old Combustion Engineering or GE fission reactors.
LMFBR’s were quite popular when I was looking at graduate research in Nuclear Engineering, and Molten Salt is another interesting variant.
Recall also that Inertial Confinement Fusion was going to save the world too. Still is supposed to...someday...
My point is that even the older Gen II nooks worked out in the U.S. because of attention to detail and safety. And with that comes the ability to put out monster power which means powering transportation as well as ordinary electric power for buildings and industry.
What the choice of reactor cycle will be is an optimality problem - but being willing to pick one is a political problem which the California idiots always obstruct.
We are now at a point where this State’s ability to produce reliable electric power is about at its limit, and PGE can no longer maintain reliable power. Outages are more common here then you might think, and the infrastucture is outdated and unreliable.
To then talk of an electric car transportation system is ridiculous - they won’t even discuss where the electrons would come from.
I’ll repeat. I read that Westinghouse paid Tesla’s expenses after he became a hermit, even though Tesla lost a lot of Westinghouse’s money before that.
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If you fill the plug wells with Break Free the night before they come out much more easily.
I have an Expedition with close to 180K miles that is running just like new on the original plugs. (never removed)
Also the plug problem was solved with a different plug in 2006. (less extending into the chamber)
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The draft law emerged as the Elon-Musk-led automaker announced its worst-ever quarter, recording a $671m loss and admitting it had not met its production target for its new Model 3 car, producing just 220 of them against its 1,500 target.Yeah, a target everyone besides Musk and his yes-people and koolaid drinkers said was impossible wasn't met, missed by a mile in fact, and that has absolutely no impact at all on the bubble that TSLA has been in for some time now (it was at 192.43 a share on Dec 12th of last year, found this in a file; its 52 week high is $389 and change).
Economists believe that the tax credit is a key driver for electric car sales, and cite the example of when the state of Georgia cut its $5,000 tax credit and saw sales of electric cars slump from 1,400 a month to just 100 a month in response.That's weird, beecause Elon's cheerleaders claim that the sales in Georgia rebounded to previous levels after the initial hit from the loss of the state subsidy.
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