Tesla Unveils an All Electric SUV Crossover – The Good, Bad, and the Ugly Parts

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The Good Parts

Elon Musk unveiled one of the hottest automobiles of all times, the Model Y which is an all-electric crossover SUV as Tesla looks to broadens its appeal and raise money at the same time. This actually did not come as a surprise because we all know that Elon Musk is stubborn and doesn’t want to raise capital by calling out investors because he thinks it is going to ruin the company.

tesla model y

 

The Model Y is due out in either 2020 or maybe early 2021 but you can order it on their website today. One thing that came in my mind was like “He’s done it again”. I don’t know why but the cool and so-called Millennials’ idol Musk thinks that people are going to give him $2500 and wait for 2 years to get this SUV delivered to their doors.

In my opinion, the event was awesome but it also looked like Elon Musk is trying to get a foot in the door first in this EV race to win the market as other automakers are also revealing their EV planning and developments.

Here is the full video from the event.

“It’s wild to think about, 11 years ago today we’d made literally one car, and a year from now we’ll make a million,” Musk said in the event. For Tesla frontrunners and fans, this is a piece of good news. Elon Musk and the Tesla teams are expecting to dominate the all-electric EV market as this is Tesla’s second attempt at a mass-market electric vehicle.

The Bad Parts

Tesla’s shares tumbled on Friday right after the news and fell by 5 percent to close around $275. While other S&P stocks are outperforming the market, Tesla has lost about $10 billion market cap and nearly lost 17% this year. We do not know whether this news will bring in more awareness or chaos, but investors were not expecting this ugly price move for sure.

Tesla Stock has been very volatile for the last two years even though it had gained some inventors in the early days.

Here is a chart to show you how Tesla stock’s price has been for the past two years.

The Ugly Parts

Elon Musk tweets have been very problematic for Tesla investors lately and costing millions to Tesla believers. While being cool and smoking pot in front of the camera is okay, challenging SEC might not be as cool as he thinks as this could result in him being kicked out from the company board and from the CEO position as well. Last month when Musk tweeted about how many cars Tesla could make this year and later he corrected the numbers, he was sued by SEC with an accusation of violating the terms and conditions.

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Questions That I have for the readers:

  1. Why do you think they unveiled Model Y now if they are not ready to deliver the vehicles until 2020 or even 2021?
  1. Do you think of any other automakers are going to have electric SUVs by 2020?
  1. Do you think this is again another Elon Musk’s intent to take the money and hide their financial health problems?

Please let me know in the comment section below.

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