- cross-posted to:
- technology@beehaw.org
- technology@lemmy.world
- cross-posted to:
- technology@beehaw.org
- technology@lemmy.world
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Can’t you also name this brand. The majority of the people here know it anyway.
Funnily enough the TSLA stock is 800 billion and the BYD stock is 75 billion.
Funnily enough the TSLA stock is 800 billion and the BYD stock is 75 billion.
That’s because Tesla is extremely overvalued, because Musk is a con man, who promises Tesla will lead AI for fully autonomous driving, and basically promises that when that happens, it’s nearly infinite money. In reality they are currently #4 at best in AI for self driving.
I’m guessing BYD is valued more by criteria similar to VW and Toyota.
PS: Yes I know half of infinite is still infinite. But I hope you all understand what I mean. 😋
Tesla stock is a pyramid scheme.
Teslastock is a pyramid scheme.
Until this year, most of the analysts weren’t really including FSD in any of their projections. They were projecting Tesla maintaining the really high margins instead of high margins. Some are adding AI in now.
When the really high margins became high margins, things changed pretty rapidly.
Of course retail investors amd what actually happens is different, and it’s hard to deny there must be some impact beyond what analysts are saying, but I don’t think it’s as much FSD as people think it is.
Edit: analysts weren’t even including the energy business either, but thats about to change too.
Without value as an AI company too, there is no sensible way Tesla can be valued as high as it is. Tesla should basically surpass the 10 leading car makers combined, if it should make sense by merely making cars as we know it today.
Can’t you also name this brand. The majority of the people here know it anyway.
It’s literally the original headline from the article, which is considered good posting ethics. Why would you want posters to editorialize headlines?
How would that majority here know it? I assume most here aren’t Chinese, and these cars are pretty new to most markets outside of China.
I personally had never heard of them, so thanks for mentioning the ticker so I could look it up.
What are each of their earnings and prospective earnings?
Market cap isn’t 1:1 with units sold
Teslas sept 2023 q3 operating margin was 11.18% and peaked at 16 before all the cuts. This is while ramping 2 factories.
BYDs latest seems to be 5.33% and peaked around 9.5 in 2018 and has been under 8 since. I don’t know what BYDs factory ramping situation is.
Ford for the past couple years has hovered a little above and below 4. Was worse further back.
Pay wall, but AFAIK they aren’t past Tesla yet, all these comparisons include PHEV.
That said, it’s believed they may pass Tesla in 2024 for pure EVs
Also keep in mind that the (fuck) CCP intentionally heavily subsidized in an effort to dump on all its competitors in different countries.
Cars are regularly sold at half the cost just to kill all competition. You’re going to eventually sell more cars than your competitor.
There’s a bit more to it than that. But yes EVs are subsidized in China.
I worked in a business where we had one product that was useful for automakers but especially useful for EVs. About 8 years ago the EVs in China were mostly cheap shitty BYDs.
Seemingly out of nowhere, the government changed a bunch of rules and regulations for new cars. Within a month design teams were being established at every major automaker in China focusing on EVs. It was a great year for us.
Key EV components, especially the materials to make batteries, started to come down in price.
Then the green plates started turning up. Every city has its own rules for car registration, some places like Shanghai, would auction new number plates each month resulting in a low supply and high demand. It was possible to buy a car cheaper than the number plate. Then if you register an EV you can get a green plate for almost nothing.
About 3 years ago the cities started requiring new taxis and busses to be EV. Places like shenzhen just converted everything to EV. Released licenses for training and testing self driving.
Charge stations started popping up everywhere. There’s no way a shopping mall or new residential development could avoid having at least a large section for charging. My own home, converted an entire floor to charging parking stations in the underground car park.
Finally tesla set up Shanghai giga factory. I have no idea how they managed to make that deal but not long after they started shipping model 3s domestically they slashed the prices down to cheaper than a niceish BYD.
If you go to Shenzhen today about a third of cars are EV and you will see a dozen brands you’ve never heard of before (some are terrible cars, but most are reasonable quality and a handful are bullshit luxury)
As in tradition in China, the government will now let them go into a price war to push the manufacturers to find cheaper ways to make them. Many will go bust or give up.
As in tradition in China, the government will now let them go into a price war to push the manufacturers to find cheaper ways to make them. Many will go bust or give up.
Isn’t that how a market economy is supposed to work, I mean normal textbook style? That’s how capitalism was sold to me in my econ classes.
Sure, but what op described sounds like the equivalent of breaking a pool cue in half and telling the Chinese EV market there’s only room for one manufacturer on the crew.
It’s a massive waste of resources to have everyone race to the bottom like that.
I still don’t get it. Isn’t the point of capitalism and a market economy to have a constant “race to the bottom”, eg. a race to provide a better service for a lower price on the supply side? I mean, interfering with that would be picking winners and losers, wouldn’t it?
Usually governments regulate their markets to prevent humans from going full human and burning everything as a sacrifice to the gods of greed. This is why we have agencies that regulate food safety, engineering standards, nuclear materials and chemical disposal.
The phrase “regulations are written in blood” reminds us that a race to the bottom will result in massive problems, and that regulation is an excellent idea.
That’s fantastic that the CCP is creating the infrastructure to switch over to EV. It STILL doesn’t change the fact that they are intentionally dumping on the competition.
Also requiring the public to switch to EVs non organically has repercussions as well. https://www.bloomberg.com/features/2023-china-ev-graveyards/
The company you work for saw subsidized money for more e-waste and what the (fuck)CCP did actually increase greenhouse gases.
Other notable CCP fuckups are…
1 child policies Covid lockdowns And my personal favorite: The Four Pest Campaign (which led to one of the biggest famine) https://youtu.be/ojOmUWLDG18?si=1OXqD3bXpWVI5RI2
Governments subsidising technologies of the future to accelerate R&D! Oh, the horror!
Ya a lot can happen in 10 years.
In the 10 years since, Musk has changed his tune from one of derision to one of respect, saying in May: “That was many years ago. Their cars are highly competitive these days.”
Honestly? Good.
Maybe this will actually push EVs to be the most common vehicle type.
@boem
I’m trying really hard to care about that.
But I think I’ll just just say: 中华人民共和国万岁 !How many of these just stand in China’s EV graveyards?
Most popular does not equate to better.
Countless ev cars were made and dumped in massive Chinese car burials just to achieve certain sales records and government mandated KPI
They’re on sale here in NZ and seem pretty popular.
These were carshare cars abandoned after the bubble burst. Also, that’s Geely, a different company that also sponsors a popular taxi service which almost exclusively uses Geely EVs to transport passengers.
