Tesla urgently needs to achieve two key goals to prove that its valuation is reasonable, or investors should sell stocks, Steve Westly told CNBC on Thursday. Westly was the founder of Venture Fund the Westly Group. He said that the fourth quarter of Tesla’s fourth quarterly performance on Wednesday was “the end of the difficult year.” Tesla reported that during this period, the year -on -year revenue increased by 2 % to US $ 25.71 billion, which was 27.26 billion U.S. dollars expected to be lower than LSEG analysts. In the fourth quarter, car revenue fell 8 % to 19.8 billion US dollars, of which 692 million US dollars came from regulatory credit, while the overall operating income was 23 % to 1.6 billion US dollars year -on -year. The company said that the decline in the average sales price of Model 3, Model Y, Model S and Model X Line is the main factor of decline. Westly said: “This is a company that increased by 71 % year -on -year in 2021. In 2022, there is almost no growth.” He continued to say that Tesla’s “shocking” energy department made up for the overall growth. According to the company’s performance, the company’s energy generation and storage revenue soared 113 % in the last three months of the year to $ 3.06 billion. However, “most people are investing because this is a car company,” Westly said. “This is a year of destruction.” When CNBC contact, Tesla did not comment immediately. TSLA 1Y line TESLA stock price. Tesla has long been one of the earliest promoters in the electric vehicle market and has a leading charging network. For a long time, Tesla’s value is the beneficiary of the US growth stock. After the re -election of US President Donald Trump, Tesla’s value has also been rally. However, the EV competition becomes hotter every year, especially the player BYD, which is the leading player from China, but it is also a traditional car manufacturer from Japan to Germany to focus on new electrical models and sales. 1. Cheap models need to hold a market value of $ 1.2 trillion, Tesla must urgently push more products to the market, including models of less than $ 30,000 and a vehicle with completely autonomous driving. “The good news is that the price of the battery is declining and it is rapidly declining. It is expected to be 2030, so there are a lot of backwinds there.” He said. Westly added: “On the other hand, they have not launched a new product for a while. The Cebest style is largely failed. They urgently need a new 30,000 US dollars on the market Q.” He pointed out that he came from The price of low -cost electric vehicle products in China is 10,000 to 20,000 US dollars. In Thailand, BYD construction factories in South America and Hungary. He added that this means that Europe will experience the “tide” that China chooses. Therefore, all this will put pressure on Tesla. They must take out a low -cost vehicle. “2. For several consecutive years. They lag behind (Google’s autonomous vehicle project) Waymo, so (yes) do a lot of things. According to Westly, the city said at the company’s income conference, Tes Tesla will start in June in Austin to start an unsupervised self -driving.) European products in early 2025. The driver is supervised by the vehicle behind the United States. -CNBC’s LoRa KOLODNY contributed to this article.
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