Tesla has not had a good financial year so far, nor has his boss Elon Musk. The EV maker has seen US $ 558 billion (RM2.45 trillion) wiped out since November last year, and from a market valuation point of view it is now US $ 663.9 billion (RM2.91 trillion), 45% less than the US maximum of $ 1.22 trillion (RM5.35 trillion). , Drive Report
Since the slide began last year, most of the losses have been recent, as the company has lost about US $ 342 billion (RM1.5 trillion) in market capitalization since Musk announced his intention to buy Twitter in mid-April. The fall is the result of multiple internal and external factors, which could cause concern among investors.
These include adverse market conditions, failure to deliver product timelines as well as lawsuits against the company alleging racial discrimination. While the company’s models accounted for three-quarters of all EVs sold in the U.S. last year, there’s nothing new on the immediate horizon.
Earlier this year, Musk confirmed that no new models would begin delivery to customers before the end of 2022. The cybertruck has been delayed many times and is not expected until next year, and the second-gen Roadster is also behind schedule, now only out in 2023.
Although Musk’s bid to buy Twitter did not help his company’s stock price, there were no complaints about his behavior. It was reported that Tesla’s share price fell 6.4% after allegations of sexual misconduct surfaced against it, erasing its value of US $ 10 billion (RM43.9 billion) in just one day last week.
According to the Bloomberg Billionaires Index, its value last Thursday was about 212 billion US dollars (RM921.7 billion). After the allegations surfaced, his assets dropped to about 201 201 billion (RM882.2 billion). Bloomberg Report Musk denies the allegations against him, calling them “wild allegations” and “completely untrue.”
Despite this, he is at the top of the index, well ahead of Jeff Bezos, who is currently valued at around US 130 130 billion (RM570.7 billion). In addition, despite its stock price decline, Tesla is the world’s most valuable automotive brand, also by a large margin, ahead of Toyota, BYD and Volkswagen, in all order.