in 2016 Tesla Model 3Tesla, which took off after launching the company and created a large fan base under the leadership of Elon Musk, set ambitious growth targets. The company, which has established great dominance in the electric vehicle market in the USA, especially It faced stiff competition from Chinese rivals. Price competition from Chinese manufacturers caused the company to cut prices. Tesla tried to stem this decline by making its cars cheaper to produce. For example, it removed the radar and ultrasonic sensors from its vehicles and replaced the autopilot with cameras.
Last week Elon Musk, They will lay off more than 10% of their workforce he explained. Later, the manager responsible for overseeing the Supercharger network, one of the most important units of the company, and more than 500 employees were dismissed. Additionally, the person responsible for developing new tools was shown the door.
The news from Tesla did not stop there. “Gigacasting” The idea of producing the entire lower body of the car, called , using huge single-piece castings, was abandoned. Tesla also It has also slowed down plans to expand its supercharger network. The company announced that it will focus on increasing the occupancy of charging stations rather than expansion.
The company recently parted ways with the head of Human Resources. Company insiders say some of the layoffs have nothing to do with hiring inefficiencies or restructuring, but rather Musk throwing his weight behind Tesla.
What’s going on at Tesla?
“The recent strategic and organizational changes at Tesla are both shocking and unsurprising. It’s a straight line from previous milestones to what’s happening now,” said Tyson Jominy, vice president of data and analytics at JD Power. But it is still difficult to predict where Tesla will disrupt itself. Questioning every cost and breaking things to see what happens is a core Tesla trait instilled by Musk. So much so that Tesla does not have a public relations team. After Elon Musk bought Twitter, 90 percent of Twitter employees were laid off. “The philosophy is to keep cutting until something breaks and then ramp up investment again where the cracks show.”
Should Elon Musk remain in office?
Jominy, He’s not sure another person could run Tesla, at least not the way Musk does. “Tesla could adapt to the automotive industry with another CEO, have a fully developed product roadmap, but an automotive manufacturer’s profit margins, growth rates and therefore share prices are much lower than Tesla’s. If another CEO is appointed, the focus on AI The last move will fail.”
Sam Abuelsamid, chief transportation and mobility analyst at Guidehouse Insights, said Tesla’s board of directors He thinks it’s high time he kicked Musk in the door. “In retrospect, this may not have been the best thing for the company in the late 2010s, because the key to the company’s survival was the company’s ability to raise free capital by selling more shares when it ran out of money. This might not have been possible in Elon’s absence because the people who bought shares and backed them “He was part of a culture of personality that believed in Elon’s mostly fanciful narratives about solar roofs and autonomy.”
“But I believe it is long past time for Elon to step aside in 2024. The lack of focus on its core business is hurting the company’s long-term prospects, especially in China, where there is great competition and these companies are redesigning their products every two years.”
Abuelsamid continues: “A change in leadership is no guarantee of fixing anything, especially if Elon can’t stop himself from intervening, but bringing in new leadership could help. Ideally, a new leader can begin to change the company culture, especially in factories, placing greater emphasis on safety and improving quality in production and products. Tesla has many strengths in software development, vehicle architecture and charging, and focusing on the fundamentals can help make the most of these strengths. “Also, changing Autopilot’s brand identity and abandoning the dream of robotaxis and robots working only with cameras should be other changes that need to be made.”
However, Abuelsamid said that Tesla’s board of directors consists of Musk supporters and has no corporate management. He says he will never admit that he made a mistake and will not step aside.
Could Tesla go bankrupt?
Writer Ed Niedermeyer says: “Auto companies go bankrupt in two ways. First, they overinvest in factories and then demand falls. Second, they don’t invest in products. Not investing in products is kind of a long-term cause, and the proximate cause is that demand falls and they invest in too many factories.” “You’ve done it, and those fixed costs crush you. So, there are certainly those situations that are common among bankruptcies in the auto industry.”
But Tesla has almost 27 billion dollars While there is cash, this is not expected to happen anytime soon. Niedermeyer, when things are going bad He finds it wrong for Tesla to make cuts instead of using this money.
Niedermeyer concludes: “Autogaming is a business of survival. In good times you can take one advantage over the other. And that can be really good for your stock. But it doesn’t matter if you don’t invest in the things that protect you in a downturn. “You will be another name added to the list of manufacturers.”
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