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Vanity project. If they did the sums first they would have realised much earlier that it was a non starter.
 

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With a projected purchase price of £150k it needed to be something very special, but instead it was just another SUV.
 

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Some interesting info they have posted, including the hullavington acquisition and transformation. And 30years ago developing diesel particulate cyclone filters.

this text sums it up though...
Dieselgate changed everything because all automotive manufacturers had no choice but to shift to electric – almost overnight. Electric cars are considerably more expensive to make and manufacturers are making big losses on the sale of each car. These losses matter less to them because the sales of electric cars allow them to offset against selling traditional vehicles on which they make a good profit. As a technology-based car – being developed by a non-automotive company – we realised that our car was suddenly no-longer commercially viable.
 

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As a technology-based car – being developed by a non-automotive company – we realised that our car was suddenly no-longer commercially viable.
So that's a roundabout way of saying he's not as clever as Elon Musk?
 

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Has Tesla ever made a single penny of real money? You know, using the most simple basic metric of how much went in, and how much came out?
 

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It looks quite conventional, not really anything special. Maybe if the battery was as good as he claims it might have sold well but for some reason he hasn't said much about that or tried to sell the technology to other people. I mean if he had a revolutionary 600 mile battery wouldn't he be building a battery factory?
 

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Yes. If you mean either cashflow or profit.
It really hasn't!

It has occasionally made a profit, but those times are massively offset by all the times it didn't. Even in the years where it had profitable quarters, they were wiped out in the same year by vast losses. It has never had a single profitable year.

To save you looking it up, the staggering number is $-6,537,000,000... Six billion, five hundred and thirty seven million dollars.

It's a fascinating phenomenon for sure, and undoubtedly Elon Musk is very, very clever and great at playing with other people's money. But as stick to beat Dyson with when his company is highly profitable year on year without fail is, I think, a little unjustified...
 

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It really hasn't!

It has occasionally made a profit, but those times are massively offset by all the times it didn't. Even in the years where it had profitable quarters, they were wiped out in the same year by vast losses. It has never had a single profitable year.

To save you looking it up, the staggering number is $-6,537,000,000... Six billion, five hundred and thirty seven million dollars.

It's a fascinating phenomenon for sure, and undoubtedly Elon Musk is very, very clever and great at playing with other people's money. But as stick to beat Dyson with when his company is highly profitable year on year without fail is, I think, a little unjustified...
Well, last year was just in profit, according to it's accounts:


But it's a startup, so you'd expect it to burn cash early on.

But now it's sitting on $8.1 Bn cash reserves. So not sure what you are trying to say?
 

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I'm going to sound really pedantic here but... It actually did -not- post a profit last year. Even your linked article confirms that despite the headline.

Those cash reserves all came from investors though, not profit. It's sitting on money it got from somewhere else, not money it made by, you know, building and selling stuff.

I'm using the most simple metric here of how much money comes into the business and how much is left at the end of it, and since the beginning Tesla has burned through $6,537,000,000. They will have to make 653 million profit per year, for ten years, to even break even.
 

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So that's a roundabout way of saying he's not as clever as Elon Musk?
Well sort of, but then Dyson did everything on his own, whereas Musk worked with Lotus to get the first car (roadster) and that was not a ground up EV design, so not really comparable.
Think Dyson should have concentrated on the van (Transit) size market, as that is massive and would have been a winner, but then thats not the market segment Dyson is interested in.
 

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I'm going to sound really pedantic here but... It actually did -not- post a profit last year. Even your linked article confirms that despite the headline.

Those cash reserves all came from investors though, not profit. It's sitting on money it got from somewhere else, not money it made by, you know, building and selling stuff.

I'm using the most simple metric here of how much money comes into the business and how much is left at the end of it, and since the beginning Tesla has burned through $6,537,000,000. They will have to make 653 million profit per year, for ten years, to even break even.
I know the difference between cashflow and profit. Do you?

Here's a helpful summary from Tesla's latest report:

130897


So pick the quarters that you like, but if you add up everything in 2019, you get $36M profit (net). They made $227 in Q1 2020 alone, with a dodgy March.

This is along with good gross margins and an upward trend.

Meanwhile their cash pile has grown steadily to over $8M - easily enough to cover your $6M (although I still don't know what that refers to exactly).

Now I don't expect them to make a profit every quarter as the name of the game is expansion. I'm sure the investors would be upset if they just gave back money instead of growing value.
 

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Well sort of, but then Dyson did everything on his own, whereas Musk worked with Lotus to get the first car (roadster) and that was not a ground up EV design, so not really comparable.
Think Dyson should have concentrated on the van (Transit) size market, as that is massive and would have been a winner, but then thats not the market segment Dyson is interested in.
Yeah, but did Dyson do those concept drawings himself? ;)
 

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Think Dyson should have concentrated on the van (Transit) size market, as that is massive and would have been a winner, but then thats not the market segment Dyson is interested in.
You mean that he couldn't make a profit in that market either. ;)

Dyson products always start at a massive premium to the remainder of the market. Whilst people are willing to accept that premium on relatively small ticket items like vacuum cleaners, washing machines and fans, I don't think that they would have been in sufficient numbers for the car to be profitable. How many new cars are sold each year at over £100,000 - not that many and certainly not enough to get back the development costs.
 

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Well sort of, but then Dyson did everything on his own, whereas Musk worked with Lotus to get the first car (roadster) and that was not a ground up EV design, so not really comparable.
Think Dyson should have concentrated on the van (Transit) size market, as that is massive and would have been a winner, but then thats not the market segment Dyson is interested in.
I am mystified why there has been few real attempts to build electric delivery vans. Seems a perfect market.
Total cost of ownership should make the high up front costs easily disappear into the low running costs to make financial sense.
Then add in the potentially huge brand equity from zero carbon delivery.
 
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