This is Fisker's second bankruptcy. His previous company was called "Fisker Automotive", went bankrupt, some chinese company bought it and started fixing thousands of design flaws in the cars.
Even though Chinese EV hasn't even trickled into d US, America is already imposing 100% tariffs. This has to be d worst kind of market player d world has ever seen.
Clearly, despite the American hubris, they knew they had already lost. So what do you do when you knew you already lost? Instead of working harder, they chose the Tonya Harding method!
A story not shared anywhere is ICE car prices have crashed in China, facing fierce competition from dozens models of EVs. Every car makers, including Toyota, Honda, BMW, Benz, etc had to slash their prices to sell Anything. That is FREE market.
Actually there were over 20 chinese car companies competiting with each other fir 20yrs. Their battery tech is 20yrs in the making. This is hard work. This is also why Elon source his batteries from Chins
I remember reading a Forbes article about Frisker and his wife-“The Billionaire Power Couple Taking on Tesla” with her featured photo in black turtleneck looking like a corporate warrior and I thought: didn’t Frisker went bankrupt in 2013? Now they bankrupt again! There was another black turtleneck wearing biotech CEO and you know what happened with that one. Must be the curse of the black turtleneck. That shirt only work for one man-Steve Job!
Tesla is the only US EV producer with a chance of being competitive against Chinese EVs with final assembly in Mexico. Nobody can compete against China EVs without tariffs. I expect BYD to set up an assembly line in Mexico with subassemblies straight from China (complete chassis with embedded motors & electronics, plug in battery pack, wheels, modular body panels with embedded doors, shell top with windshields.). 95% of the labor is done in China.
Tesla had a lot of issue with production in the early days. If Tesla didn't opened the China factory and delivered their cars, Tesla might not have survived either. And China was and still is the biggest EV market.
Imagine what happens when you wake up and your vehicle doesn’t work because the company developing firmware for it has gone belly up. Traditional hardware all the way baby
not really , there is a largish ev company that went belly up this year i think ..got it . WM Motor . anyway , i have been in a few of them as a didi taxi . the drivers that i spoke to all said its OK , just no more new updates , the car is fine !
@@user-wi8wz4mh9g ? im just a old bloke living/retired in china - i gain NOTHING by telling what i see in REAL ! of cos you dont need to beleive everything you read on the internet but hey ...live and let live ok.
Fisker is a good and bad example they have been terrible even in the golden years of ev’s the better argument to make would be how no western company has been able to make an affordable ev despite having a few year head start where as China somehow can do it now
The moat is the battery technology. BYD originally started as a battery company, and other Chinese battery companies like CATL license their technology to western car companies. So for Chinese companies, they save on batteries as they are either in house or very close to the supply chain.
Fisker should be in jail, but then he claimed to have a ready for use solid state battery that would charge in 1 minute and do 700 miles, yet still got over 1Billion in funding lol
@11:14. No, I'm afraid that's not true. When it comes to EV production, labour cost is not a significant factor. There was a video 1 or 2 years ago showing the inner workings of the EV factory for the HiPhi X (a luxury Chinese EV). There were hardly anyone on the factory floor! Most of the work were automated. Xiaomi's factory in China produces their SU7 EVs at a rate of 76 seconds per car. Clearly human labour would only slow down the production. So clearly, labour cost is only a very minor insignificant factor in the EV world.
By the way, that HiPhi X was once the best selling luxury vehicle in China (not just the best selling luxury EV). However it eventually went bankrupt because of the tense competition in China, and the rise of relatively 'cheap' luxury EVs from other Chinese brands (especially from Huawei).
I agree with everything stated in your presentation. I'm equally frustrated. This is a massively disruptive change and we are oblivious to it. But I don't think the rest of the world is.
There's a few of the gr8 filters we currently face. 4me, out of the ELE's slapin our face ATM it isn't CC (though long term without uncreated tech (which my (Australian) gov constantly talks about creating???)), it's F'n the doomsday clock gettin ready2 chime us in2 non existence (short of tge 1% who's no doubt organised with their bunkers) 👈
Elon gave up the game years ago when he built a gigafactOry and partnered with BYD. That's why he's hawking robots, and AI and long delayed self driving and whatever else will keep Tesla stock overvalued.
Just BTW, The Tesla "Staffing adjustments" were preparation for recession. He's ALWAYS proactive. Remember the previous price hikes which were ridiculed, then 9 months later they were all doing it and 3 months after that it was "Elon Starts EV Price WAR!!" as Tesla DROPPED prices? How about the "Chip Shortage"? Next recession mitigation measure? "Cheaper vehicle, using current production lines and elements of Unboxed" PROACTIVE.
America had lots of time to develop EVs, but they didn’t believe in it. So tariff for another 10 years won’t make any difference. It’s basically an excuse to enable the U.S. automakers to sell more ICE cars. This is why you want to have friends in high places.
China has been doing internal competition between domestic car manufacturers game for many many years now, largely ignored by countries outside of China due to a variety of factors. They would have continued to do this happily if two things did not happen. American, Mr. Musk, went into China and sparked a lot of interest... and then Mr. Biden, another American, went and pissed them off. This'll be fun to watch.
@@rogerstarkey5390 You're right. Trump pissed them off first... but he never insulted Chinese leadership in public. Chinese don't care about the tariff that much honestly. They seem to just laugh at it.
I disagree with your statement that internal combustion engines cars are more complex than electronic cars. Not by a long shot. Now when you add government regulations and modern mandated components now it becomes more blurry. The best explanation why China has so many EV companies is because they have decades of making products adjacent to most of the thing that an electric car is made up of. While the rest of the world thought those things where not worth producing locally
When it comes to EV, the west is at a disadvantage mainly due to lack of IP and the sheer simplicity of the system. No way to beat the Chinaman in this particular domain.
Every country does it to jumpstart interest in the EVs. China has discontinued the subsidy and the competition among the EV makers are so fierce. They have plethora of brands and segments. China is the real free market economy. Whereas USA has only a handful of expensive brands, out of which Tesla emerges as the SOLE player. USA looking more like a communist country.
To be fair, fisker had been the financial equivalent of a deadbeat alcoholic for a long time. This was a bankruptcy waiting to happen.
Yes, context matters.
This is Fisker's second bankruptcy. His previous company was called "Fisker Automotive", went bankrupt, some chinese company bought it and started fixing thousands of design flaws in the cars.
Even though Chinese EV hasn't even trickled into d US, America is already imposing 100% tariffs. This has to be d worst kind of market player d world has ever seen.
Clearly, despite the American hubris, they knew they had already lost.
So what do you do when you knew you already lost?
Instead of working harder, they chose the Tonya Harding method!
A story not shared anywhere is ICE car prices have crashed in China, facing fierce competition from dozens models of EVs. Every car makers, including Toyota, Honda, BMW, Benz, etc had to slash their prices to sell Anything.
That is FREE market.
Tell me you aren't chinese without telling me that you're chinese
CCP operative
On another news its said hybrids are making a big comeback
Well if the bulk of the reasons to pay 75,000 for a car are tariffs and license fees, why bother? The lack of demand becomes self fulfilling.
Actually there were over 20 chinese car companies competiting with each other fir 20yrs.
Their battery tech is 20yrs in the making. This is hard work. This is also why Elon source his batteries from Chins
I remember reading a Forbes article about Frisker and his wife-“The Billionaire Power Couple Taking on Tesla” with her featured photo in black turtleneck looking like a corporate warrior and I thought: didn’t Frisker went bankrupt in 2013? Now they bankrupt again! There was another black turtleneck wearing biotech CEO and you know what happened with that one. Must be the curse of the black turtleneck. That shirt only work for one man-Steve Job!
Tesla is the only US EV producer with a chance of being competitive against Chinese EVs with final assembly in Mexico. Nobody can compete against China EVs without tariffs. I expect BYD to set up an assembly line in Mexico with subassemblies straight from China (complete chassis with embedded motors & electronics, plug in battery pack, wheels, modular body panels with embedded doors, shell top with windshields.). 95% of the labor is done in China.
I fully expect Tesla to pull a 80’s trick of getting congress to limit imports but have a carve that allows Tesla to rebadge BYD products.
or build fully automated factory like factory that produce Xiaomi su7.
No, BYD won't be building factories in Mexico. Mexico isn't allowed to. Too far away from God, too close to America, you see.
EV manufacturing is highly automated and you still think China cheap labor is the competitive advantage? Wake up dude.
Orange man will stop all of this
Tesla had a lot of issue with production in the early days. If Tesla didn't opened the China factory and delivered their cars, Tesla might not have survived either. And China was and still is the biggest EV market.
That was mainly because Chinese standards and work ethic was (is) superior.
fiskar was already in trouble
The only relevant question is - What this bill did to Tesla share price? What happened to other legacy car company share price is also a question.
They are right: since EV locally are failing, any EV imports will coincide with EVs in America failing.
We do have Chinese EVs already in the US = Polestar. The Swedish spin is all window dressing. It's a Chinese developed, sourced and produced vehicle.
Thank you for enlightening us. Almost everything is made in China, but the West governments don't want to accept it.
Bidenomics: I see dead companies... 😂
dead men see dead companies 😂
@@roro4787Oof
Biden would have been bankrupt many times, had he not in politics from get go.
This guy has not earned his living for ONE day.
Imagine what happens when you wake up and your vehicle doesn’t work because the company developing firmware for it has gone belly up. Traditional hardware all the way baby
not really , there is a largish ev company that went belly up this year i think ..got it . WM Motor . anyway , i have been in a few of them as a didi taxi . the drivers that i spoke to all said its OK , just no more new updates , the car is fine !
@@UKkennyHow much were you paid to write that sentence filled with lies ?
@@user-wi8wz4mh9g ? im just a old bloke living/retired in china - i gain NOTHING by telling what i see in REAL ! of cos you dont need to beleive everything you read on the internet but hey ...live and let live ok.
Fisker is a good and bad example they have been terrible even in the golden years of ev’s the better argument to make would be how no western company has been able to make an affordable ev despite having a few year head start where as China somehow can do it now
One ("investor") born every second.
If bidden is blocking chinese evs, then the chinese should just export most efficient ice cars to america.
Hahah ok CCP soldier
@@user-wi8wz4mh9g can you cope any harder?
The moat is the battery technology. BYD originally started as a battery company, and other Chinese battery companies like CATL license their technology to western car companies. So for Chinese companies, they save on batteries as they are either in house or very close to the supply chain.
Fisker should be in jail, but then he claimed to have a ready for use solid state battery that would charge in 1 minute and do 700 miles, yet still got over 1Billion in funding lol
"Fiskers don't make noise when they start-up"
- Donald Glover
Helps his friends. That's all it counts for US politicians. 😂
It sucks but if they can’t produce a car that’s as OK as the model 3, then why even bother?
@11:14. No, I'm afraid that's not true.
When it comes to EV production, labour cost is not a significant factor.
There was a video 1 or 2 years ago showing the inner workings of the EV factory for the HiPhi X (a luxury Chinese EV).
There were hardly anyone on the factory floor! Most of the work were automated.
Xiaomi's factory in China produces their SU7 EVs at a rate of 76 seconds per car.
Clearly human labour would only slow down the production.
So clearly, labour cost is only a very minor insignificant factor in the EV world.
By the way, that HiPhi X was once the best selling luxury vehicle in China (not just the best selling luxury EV).
However it eventually went bankrupt because of the tense competition in China, and the rise of relatively 'cheap' luxury EVs from other Chinese brands (especially from Huawei).
Let's send the Big guy in jail
Not a chance. American Z1onist A!PAC will see to it.
It seems people thought there was some kind of EV gold rush going on but really people largely dont want them.
I agree with everything stated in your presentation. I'm equally frustrated. This is a massively disruptive change and we are oblivious to it. But I don't think the rest of the world is.
😂Dead on tariff arrival. Tariffs are protective? Haha no!
If making an EV is infinitely easy like you said, why Apple failed Eli?
Labour cost? .. tut tut .. the major factor for EV dev and manf will be research and automation engineering skill.
CHINA ROCKS'''''''
There's a few of the gr8 filters we currently face. 4me, out of the ELE's slapin our face ATM it isn't CC (though long term without uncreated tech (which my (Australian) gov constantly talks about creating???)), it's F'n the doomsday clock gettin ready2 chime us in2 non existence (short of tge 1% who's no doubt organised with their bunkers) 👈
Elon gave up the game years ago when he built a gigafactOry and partnered with BYD. That's why he's hawking robots, and AI and long delayed self driving and whatever else will keep Tesla stock overvalued.
Oh noes, our tariffs are too late!
So, basically at the 7:53 mark - it's a matter of FIXED COSTS vs. VARIABLE COSTS. - James D. Watkins, artistic director of PHOENIX PRODUCTIONS.
Orange man ends all of this come November
Wake up call of FFIV
They were bankrupt before this... china has their own market share, we should not concern ourselves. Tesla is managing money.
Just BTW, The Tesla "Staffing adjustments" were preparation for recession.
He's ALWAYS proactive.
Remember the previous price hikes which were ridiculed, then 9 months later they were all doing it and 3 months after that it was "Elon Starts EV Price WAR!!" as Tesla DROPPED prices?
How about the "Chip Shortage"?
Next recession mitigation measure?
"Cheaper vehicle, using current production lines and elements of Unboxed"
PROACTIVE.
America had lots of time to develop EVs, but they didn’t believe in it. So tariff for another 10 years won’t make any difference.
It’s basically an excuse to enable the U.S. automakers to sell more ICE cars. This is why you want to have friends in high places.
CCP bot
Don't forget the oil companies keeping us addicted to the hose
China has been doing internal competition between domestic car manufacturers game for many many years now, largely ignored by countries outside of China due to a variety of factors. They would have continued to do this happily if two things did not happen. American, Mr. Musk, went into China and sparked a lot of interest... and then Mr. Biden, another American, went and pissed them off. This'll be fun to watch.
You forget that the tariff war started "Pre-Biden?
@@rogerstarkey5390 You're right. Trump pissed them off first... but he never insulted Chinese leadership in public. Chinese don't care about the tariff that much honestly. They seem to just laugh at it.
Good job ameriKKKans
Another point for the China Man 😂
us dont need ev
Fisker doesn't make their cars MG does
US Tarrifs on Chines EVs free Chinese EVs.
computer man!
I disagree with your statement that internal combustion engines cars are more complex than electronic cars. Not by a long shot. Now when you add government regulations and modern mandated components now it becomes more blurry. The best explanation why China has so many EV companies is because they have decades of making products adjacent to most of the thing that an electric car is made up of. While the rest of the world thought those things where not worth producing locally
When it comes to EV, the west is at a disadvantage mainly due to lack of IP and the sheer simplicity of the system. No way to beat the Chinaman in this particular domain.
>tariffs are racist
The term has lost all meaning because of people like Eli
You should learn more about your wife's car. You keep saying you don't like it, BUT you know nothing about it.
The problem is China does do the same and and subsidies their own. Eli don’t be dumb.
Every country does it to jumpstart interest in the EVs. China has discontinued the subsidy and the competition among the EV makers are so fierce. They have plethora of brands and segments. China is the real free market economy.
Whereas USA has only a handful of expensive brands, out of which Tesla emerges as the SOLE player. USA looking more like a communist country.
-Tesla bankruptcy within 3 years.
//ThunderfOOt
Thunderf00t is great on science and technology, but he's a complete moron when it comes to geopolitics.
Sad