Tesla starts building a factory in Shanghai, but the situation in the company is complicated
The other day on Habré was published the news that Tesla Inc is entering the markets of Europe and China. In order to strengthen its position in the Celestial Empire, the company begins construction of its own factory - Gigafactory 3. Ilon Musk said about the beginning of work on the creation of a new production center.
After the factory is ready, the company will start producing about 250,000 electric vehicles per year, mainly Tesla Model 3 and Tesla Model Y. The first Model 3 electric car will come off the assembly line by the end of 2019.
Tesla China Factory is the first enterprise of the company abroad. In addition, it is the first factory in China, which is fully owned by foreign capital. It will allow Tesla Inc to minimize the company's losses from the increase in the Chinese government's duties on American-made cars (the results of the trade war launched by Trump).
Perhaps the new enterprise will help Ilona Mask to improve the work of his company. She is not having the best of times. Thus, Tesla Inc shares fell immediately by 9% after the results of the fourth quarter were published. Previously, analysts assumed that the company would be able to produce 92,000 electric cars in the fourth quarter. But it turned out to deliver only 90,700, and to produce - 86,555. Of these, 61 thousand - Tesla Model 3.
Overall, Tesla shipments grew by 8% compared with the third quarter of 2018. At the same time, the production level of Tesla Model 3 increased by 13%. In total, the company managed to deliver 245,240 cars last year. According to its representatives, in 2018 as many electric cars were delivered as in all previous times. Tesla now plans to enter international markets (which it does), lower prices and improve its leasing offers.
But the year was very difficult for Tesla and for Ilona Mask. Earlier, he said that the first half of 2018 was for him the most difficult period in life, "hell in existence." Due to permanent employment at his enterprises, Musk got chronic fatigue syndrome and insomnia. Tesla continues to lose money. So, at the beginning of the year, the company spent about 50-100 million US dollars a week. At the same time, analysts predicted that the manufacturer of electric vehicles will lose all the money before August 6, 2018, which did not happen.
After shareholders learned that about 20% of customers who reserved Tesla Model 3, demanded compensation for a failed order, the company's quotes fell again. A little later, Ilon Mask and his team were able in these difficult conditions to open a third assembly line, right in the parking lot of the company. This somewhat improved the mood of shareholders and increased the value of shares. The shareholders particularly liked the fact that the third assembly line made it possible to increase the production of electric cars by 50%. As a result, stocks rose from $ 278 to $ 370.
But Mask himself ruined everything by his infamous tweet about what he was going to buy back the company's shares from the exchange for $ 420, which is a third more expensive than the market price. Tweet allowed shares to rise in price by another 20%, but after the head of Tesla announced that he had changed his mind about making the company private, a negative wave followed. Mask managed to solve the problem without a trial, paying a $ 20 million fine and leaving the post of chairman of the board of directors of Tesla. After that, the shares fell again, but for a rather strange reason - Musk then smoked marijuana live. The fall was significant - from $ 310 to $ 250.
Positive moments were also. For example, Tesla made a profit for the first time, earning $ 312 million at the end of the third quarter. Shares began to rise, and after Tesla Inc began accepting orders from European buyers, the value of shares rose from $ 314 to $ 377.
But then the difficulties began - the Tesla Model S electric car ignited, the American stock market started to have problems, and Vice President Jens Peter Clausen left his post.
The worst thing for Tesla is that competitors are now very active. Many car manufacturers began to develop their own versions of electric cars, and their value is not too high. Musk responded to all problems philosophically, saying that even if the company went bankrupt due to competitors, it would be good for the world, because someone still produces great electric cars.