Lipstick on a pig
Musk’s Tesla brand is becoming toxic. The unsold cyber trucks are accumulating in large lots. Sales of Tesla sedans have slumped, partly because Musk himself is a toxic brand and partly because of competition. Looks like Musk is crying “uncle.” “Elon Musk, who turned an upstart electric vehicle maker into an industry-changing powerhouse, is pulling the plug on the two models that helped get him there, as he struggles with another quarter of declining profits and car sales. “He announced the end of production of two models – the Model S and Model X, among the company’s most expensive models, on a Wednesday earnings call. Instead, the company will use that factory space to build humanoid robots instead. “ And he seemed to suggest that selling electric vehicles, which Tesla helped to introduce to the global mass market, would soon be an afterthought for the company.” Musk says Tesla will pivot to robotaxis: “Musk predicted the Cybercab, a two-seat self-driving “robotaxi” vehicle with no s...