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Everybody with a bit of sense predicted this would happen.
It's also why anybody with a bit of sense knew the EV subsidies were important if we wanted American car companies to be competitive in the future. Instead our "America First" president handed China the future of automotive manufacturing.
Also the oil industry is still heavily subsidized, so now you have American OEMs fighting a subsidized oil industry, and a subsidized Chinese EV industry.
Their EVs are gonna get fucked at both ends.
The end result is the US auto industry as a whole being left behind by the rest of the world as other countries expand EV infrastructure and limit or even eliminate fossil fuels across the board.
Those who forced free market capitalism on other nations don't like free market capitalism anymore lmao
It's never been free market capitalism. Subsidies and anti trust have been around for a very long time. That's also because free markets would never work without regulation.
Well, Venezuela will be forced to have free market capitalism so Chevron can exploit its natural resources.
I'd rather it not be Tesla at the forefront. They did some admittedly good things in the beginning to help normalize EVs and build out charging infrastructure.
But I'm not a fan of their vehicle design (interior or exterior), have concerns about their QC and after-sale service, and I won't buy one as long as Musk is at the helm.
That's not a reason to nuke the EV industry as a whole though. Removing the tax incentive for all EVs did exactly that.
My apologies if that is what my comment implied.
I actually think the EV tax bonuses were at least attempting to level the playing field, with tax credits being limited per manufacturer.
Tesla and the American EV industry was already very heavily subsidized. At least up until near the end of 2025.
To claim Tesla wasn't heavily subsidized already when they made model S is very ignorant.
I didn't claim they weren't. I in fact just did the opposite and said they were in order to try to secure American manufacturing in the future and instead Trump pulled the plug.
OK then we are in agreement.
Well, stock holders don't believe this will affect TSLA share price. Robotaxi and Optimus will replace the revenue stream lost on Tesla EVs.
I'll invest all my savings, my wife's savings and kids college funds in TSLA. 😉
edit: added emoji.
TSLA share prices never had a real correlation to their EV sales. Tesla sells promises, EV cars are a byproduct.
There was actually a super brief window that it did. When they started successfully making the model3/y and everything was growing and profits were high, they actually caught up to their insane PE ratio to a reasonable tech multiple.
It was a very small window though, like 1 or 2 quarters and then it became evident the growth was not going to continue and profits started coming down.
It’s insane, the crazy high PE ratio was predicated on the idea that Tesla would be the only game in town for EVs or self-driving cars worldwide, but now both of those are obviously not happening I can only conclude there’s some sort of sunk cost fallacy at play.
That's decidedly reckless, you are investing in unproven products that demonstrably don't work yet, and neither Robotaxi or Optimus will ever get anywhere.
That... that was the joke.
I suspected that might be a joke, but there was no indication, and there are actually a lot of people who are that crazy.
So even without invoking Poe's law, that was far from obvious.
https://en.wikipedia.org/wiki/Poe%27s_law
Personally I would have put a /s after such a comment.