Time to short TSLA?
“Chinese electric-car maker NIO has launched sales of its first vehicle three years after the company was founded, undercutting the price of a rival model from Tesla Inc.”
“Chinese customers can buy the ES8 sports utility vehicle, with a range of 500 kilometers (311 miles) on a single charge, for 448,000 yuan ($67,783), the company said late Saturday in Beijing. That compares with 836,000 yuan for Tesla’s Model X, and 596,300 yuan for BMW’s gasoline-powered X5.”
My prediction: Tesla is not going to be a car company in five years; they will just make other battery products. They deserve credit for taking risks that no one else wanted. However, they don’t actually have any technology that other companies can’t reproduce and or do better.
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