Elon Musk Not Really Bothered If Tesla Goes Bankrupt

As long as electric cars take over, Musk is happy...

1y ago

28.7K

Elon Musk wouldn’t lose too much sleep if Tesla went under, because he’s got bigger things on his plate. Well, kind of, anyway. He wants electric vehicles to be successful, even if the company he’s helped to build up is dissolved in the process.

Musk was recently interviewed for CBS’ 60 Minutes show. “If somebody comes and makes a better electric car than Tesla, and it’s so much better than ours that we can’t sell our cars and we go bankrupt, I still think that’s a good thing for the world.”

Not sure all the Tesla workers would agree, there.

And one of the company’s main rivals, General Motors, has just announced that it’s laying off thousands of workers as it looks to restructure. It’ll slash its salary books by 15% in a bid to go fully electric.

Tesla, of course, is testament to how difficult it is to build an electric empire. Amid production line woes, Musk’s unusual management style and build quality issues, the company has shafted money away like a waterfall. It’s made its first profit in two years, and one of amazingly few in its 15-year history. Reports from Goldman Sachs suggest that Tesla needs to face debts of nearly $9 BILLION. Whether it’ll manage that will decide its future.

And up until now, Tesla has been basically the only option if you want a desirable electric car with decent range for everyday life. The default choice. But in the space of a couple of years, Jaguar, Mercedes, Audi, BMW and Porsche have all created (or will create) EVs to challenge the best that Musky and his team has produced. Without Tesla’s well-documented quality issues.

Plus, mainstream manufacturers are putting all their efforts into EVs, and they’ll be better than a Nissan Leaf or Focus Electric. After Dieselgate, VW is sinking $50 billion into electric car development.

Tesla reportedly isn’t looking to fundraise to secure its future, even with its global expansion and potential future models. Hopefully its finances will snowball with more models and sales. It is, however, looking at pinching some of the factory space that GM will get rid of.

Will Tesla survive?

Let me know in the poll and the comments.

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Comments (36)

  • The world doesn't deserve Elon Musk.

      1 year ago
  • I absolutely hate electric cars and tesla, but they are the future of automotive transport, even a petrolhead like myself can admit that . Im just gonna hold off for as long as possible with my fossil fuel burning cars 😚

      1 year ago
    • I’m kind of on the fence. I’m excited to see if electric cars will take over and whether they’ll still appeal to petrolheads (will it be batteryheads in the future?), but nothing compares to a noisy V8

        1 year ago
  • It’s as well he can afford to think like that, never mind the Tesla employees who need the company to stay solvent so they can eat and pay the rent. The man’s a dick.

      1 year ago
  • The most rediculous and stupid article I have read.

    Musk is an inspiration for those who care about everything he has done for people the environment and beyond.

    Articles such as this one put him in a bad light so irresponsibly that it triggers the dark side (what I call the “non-thinking side) of people’s minds. Great example is Trevor Sanders’ comment.

    Something to think about: Musk is a very rich person, yes? He doesn’t have to do anything at all. Yet he cares so much about what he does that, not only that he spent hundreds of millions of dollars OF HIS OWN MONEY on Tesla and his other companies, but he sleeps on the factory’s floor to make sure things are working. He built a massive infrastructure for electic cars, he built (and continue to build) an electric cars that no one can compete with on any and all levels. Like it or not Tesla IS the standard.

    Musk needs the freedom to do what is necessary. His problem is that he is so eager to do, that He cannot gauge time and people cannot keep up with him.

    People - chill! The electric car revolution is making history. No one - including Musk - can stop it!!!

      1 year ago
    • Whoa, hold it there Larry. I’m a big fan of Tesla and Musk, and I’m not saying he hasn’t done a lot for EVs. (I’d argue we wouldn’t have good EVs without him) In this article I’m merely saying what he stated in an interview, and I believe Tesla’s...

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        1 year ago
    • Well no

        3 months ago
  • I just don't understand why anyone would want to buy a model X, they cost more than range rovers, have pathetic range and you can't charge them anywhere.

      1 year ago
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