Elon Musk Reveals Insane Things About Joe Biden And General Motors: Becoming a leader in anything is no small feat. You will have to ride through adversaries after adversaries. And sometimes, you may have to dislodge the current leader and fight against the powers that are trying to hold you down.
It’s no different for Elon Musk trying to make Tesla the number one car manufacturer in the world. In fact, in the case of Elon Musk, he’d go against a fully funded behemoth of General Motors that has been around for decades and also deal with the president of his own country in the person of President Joe Biden.
However, all of it appears to be a piece of cake for Elon Musk as he knocked out both Joe Biden and General Motors.
2020 was the year in which Tesla zoomed past General Motors and Ford, each being well-respected and renowned industry giants in not just the American automobile industry, but across the world too.
The stock of the Silicon Valley electric carmaker jumped nearly 5% at the start of 2020, closing at a record $492.14 per share and boosting its market capitalization to nearly $89 billion, or $2 billion more than the combined market capitalizations of GM and Ford, which are $50 billion and $37 billion, respectively.
Tesla’s stock had more than quadrupled, fueled by a surprise third-quarter profit, development at a new facility in China, and better-than-expected car deliveries in the fourth quarter.
“It’s clear that Tesla is back to being a story stock and there’s a lot of good news out there,” said David Kudla, chief investment strategist at Mainstay Capital Management. “But there are still some problematic issues out there, chief among them is what will its sustained profitability look like, and when will it start to be valued like a car company and not a tech company.”
Elon Musk’s accomplishments have baffled short-sellers and other speculators who expected the company to be overtaken by established automotive firms. The fact that Tesla’s market valuation has exceeded that of its US competitors, despite the fact that their businesses dwarf Tesla’s, demonstrates investors’ faith in Musk and his company’s future growth.
In 2019, GM and Ford each supplied more than 2 million automobiles in the United States, compared to 367,500 vehicles shipped worldwide by Tesla. Tesla has only seen a continued upward trend since then.
GM/Ford are classic instances of old-guard competitors locked into maintaining innovation, while Tesla is a classic example of a disruptive innovator. While the former is transforming the market, such as Amazon is doing in retail, the latter, entrenched fogies, continue to scoff at it, such as Wal-Mart, Best Buy, Circuit City, and Barnes & Noble.
Tesla did not set out to be a firm that produced marginally better or less expensive automobiles. Or even a different automobile, but one that is close to what most American firms produce.
Instead, it set out to create a better automobile. GM/Ford are classic instances of old-guard competitors locked into maintaining innovation, while Tesla is a classic example of a disruptive innovator.
While the former is transforming the market, such as Amazon is doing in retail, the latter, entrenched players, continued to scoff at it, such as Wal-Mart, Best Buy, Circuit City, and Barnes & Noble. Tesla did not set out to be a firm that produced marginally better or less expensive automobiles.
Or even a different automobile, but one that is close to what most American firms produce. Instead, it set out to create a better automobile. Tesla created a fantastic vehicle that utilized cutting-edge technology to meet a variety of demands.
It was created for those who desired a stylish roadster that also handled well, had decent fuel economy and was quiet. All of these prerequisites were satisfied in spades by the electric Tesla. The Roadster wasn’t meant to be for everyone, and it certainly wasn’t built to be.
After all, the performance model costs $97,000, which is significantly more than a gasoline-powered Malibu. Alternatively, a Ford Taurus. The $57,500 entry-level Model S does not perform like a Lamborghini and is substantially more costly than gas-powered Chevrolet cars.
The premium variant, on the other hand, was a fraction of the cost of a Ferrari supercar – or even a Porsche Panamera, Mercedes S550, Audi A8, BMW 7 Series, or Jaguar XF or XJ – which are the cars that most nearly match size, roominess, and performance.
It’s also just about twice the price of a fully-loaded Chevy Volt, but with a LOT more benefits. And the base model, at $57,000, was only $17,000 more than the Volt’s MSRP. On the subject of affordability, they may be equivalent. Tesla was proving that it had the potential to transform the vehicle industry.
While not everyone can afford a $100,000 automobile, and not everyone wants an electric car, Tesla demonstrated that it can address unmet requirements, emergent demands, and grow into more conventional markets with a superior answer for those seeking a new solution.
In the same manner that Apple outperformed RIM in the smartphone market. Traditional carmakers were not trying to do what Tesla did or adopt some similar strategy at all, until recently. They are so enamored with their old notions of what a car should be that they reject Tesla’s entire concept.
Their preconceptions prevent them from truly attempting to achieve what Tesla has done – and will continue to do – while continuing to produce vehicles that meet all of the old specifications.
Traditionalists, rather than building an electric automobile, condemned the technology. Toyota pioneered the notion of converting a gas automobile to an electric vehicle with hybrids, such as the Prius, which has a gasoline and an electric engine. That, however, was not an attempt to build a better automobile.
It took a lot of work to convert a gasoline automobile to run on electricity. There is a significant difference. Ford’s strategy was so obvious in defending and expanding its existing business that its hybrid vehicle line didn’t even have a name!
Ford redesigned some of its existing vehicles into hybrids, including the Focus Hybrid, Escape Hybrid, and Fusion Hybrid. How can a client be thrilled about a new technology when it’s explicitly stated as a trade-off: “gasoline or hybrid, your choice”? Hybrids aren’t exactly a technical leap forward.
Instead, it sounds just like an old automobile that has had something put to it. GM introduced the Volt to the market. Despite the fact that it is marketed as an electric vehicle, it also features a gasoline engine.
It also contains all of the standard trade-offs. High starting price, mediocre 0-60 performance, bad high-end speed performance, lacks handling, isn’t really attractive, and isn’t particularly big. Despite the fact that it is the automobile on which Tesla hater Bob Lutz placed his particular imprint.
If mpg is your sole criterion, the Volt fares well when compared to a gasoline car. Then again, despite Tesla’s success in making the United States more relevant to the global automotive industry again, politics at play means that the current administration hesitates in acknowledging them.
Tesla’s outspoken CEO restated his conviction that the Biden administration is neglecting the electric-car maker’s triumphs in favor of more established manufacturers in an email chat with CNBC. When he accused the Biden administration, he used harsh language.
He also made a joke about GM, which only sold 26 electrified vehicles in the fourth quarter of 2021. According to Musk, GM’s fourth-quarter numbers have “room to improve.”
According to GM, the company sold a total of 26 electric vehicles in the fourth quarter. They included 25 Chevy Bolts and one Hummer EV pickup truck, according to Teslarati. Given that GM had made a point of saying that Hummer EV customer deliveries had already begun, this was particularly fascinating.
“The first 2022 GMC Hummer EV Pickups have been produced at Factory ZERO, and customer deliveries will now begin,” GM said in a statement. Tesla’s CEO and supporters have been irritated by the White House’s seeming lack of interest in the company for months.
Biden, according to Musk, prefers long-established automakers like GM and Ford to Tesla as the future of American automobile production. On Twitter, Tesla supporters pressed Biden to include the well-known electric vehicle maker.
On Feb 8, 2022, Biden said as much in prepared remarks, referring to Tesla as “our nation’s largest electric vehicle producer.” The White House said in a statement to CNBC on Tuesday that Tesla is “a huge part of why the whole industry now realizes EVs are the future.”
Nonetheless, the relationship between the automaker and the government appears to be sour at best. Tesla’s nonunionized workforce is a major sticking point for the Biden administration and House Democrats.
Tesla has been accused of suppressing union activities at its facilities, and Musk was forced to remove a tweet threatening to deprive unionized employees of stock options.
Musk’s insults directed against Biden are well-known by this point but going back to GM a little bit. Due to battery difficulties, GM stopped producing electric vehicles like the Chevrolet Bolt last year, in 2021.
Production will restart on April 4th, 2022, according to the Detroit News. Musk wrote to CNBC after hearing that he will be excluded from future negotiations between the administration and corporate CEOs.
When asked if administration officials should be afraid that Musk may disgrace the president if invited to a White House function, Musk answered, “They have nothing to worry about.” “I’d do the right thing.”
It seems Tesla still has a vice grip on the EV market and will continue to do so, a fact that automatically keeps humiliating GM and Biden. Time will tell whether any of GM’s EV offerings achieve the same level of sophistication and customer satisfaction as Tesla’s.