Tesla’s debt-drenched saga may be coming to an end. From Eric Peters at ericpetersauto.com:
Even long cons can only run for so long.
Elon Musk’s electric car con may be on the verge – finally – of coming unglued. This week, he’ll be forced to reveal actual production numbers for the first quarter of the year which are expected to fall well short of what he promised investors – and buyers, who ponied up deposits based on those promises.
He’s come as close to reaching that goal as he has to sending space tourists to Mars, another promise.
Thousands of people who were promised cars last year are still waiting for cars this year.
They may still be waiting next year, given that Musk – so far – has only been able to build a relative handful of Model 3s. The backlog is giga-normous. Which means that even if he somehow manages to ramp up the production to what he promised last year, it’ll take an increase in production over that promised number just to catch up this year.
Meanwhile, the marks – whoops, buyers – wait.
And wait, again.
If GM, say, took cash deposits from thousands of people and promsied them cars by “x” date but hadn’t delivered them by “y” (or even “z”) the abuse chorus from the press would be shrill and endless. There would be howls from the gypped, demanding their money back. But Musk gets away with serially breaking promises because what he promises jibes with the vision which the technocratic elites who control the press as well as the fanbois who practically worship him are desperate to see realized:
The electrified – and automated – future.
But what if it isn’t workable? Damn the facts! Full speed ahead!
It’s very much of a piece with Lysenkoism – the Soviet-era rejection of inconvenient facts in favor of politically correct bromides.
Wishes vs. reality.
To continue reading: Feel The Burn