Share to Twitter Share to Linkedin With an equity market capitalization of $53 billion Tesla is not often characterized as a small company. In the metrics that matter, however, Tesla is truly a minnow amongst the whales that dominate global auto production. As the world’s automakers look to transform themselves from manufacturers and marketers of cars to providers of "mobility solutions" the need for investment is enormous. Most mobility solutions are based on battery-electric vehicles (BEVs) which will eventually be capable of performing self-driving, thereby becoming autonomous vehicles (AVs.) This transition, like most, requires one material above all: capital. That capital needs to be in liquid form, and that is where Tesla trails its rivals badly. In the table below I present the amount of automotive (i.e. ex-financial services) cash sitting on balance sheets of the world's major global automakers; figures are as of the most recent reporting periods … [Read more...] about Tesla Is Staring Down $267 Billion In Cash Firepower From The Global Automakers
Billion dollars in cash
Adverse developments likely to reduce Adani Group’s ability to raise capital: Moody’s on Hindenburg report
The Adani group lost over $100 billion after an American short seller's report. Moody’s on February 3 said that its ratings for Adani Ports and Special Economic Zone Limited, Adani Green Energy Limited, and Adani Transmission Limited are underpinned by their regulated infrastructure businesses with long-term sales contracts, or their strong operating cash flows and dominant market position. "Given the significant and rapid decline in the market equity values of the Adani Group companies following the recent release of a short-seller report highlighting governance concerns, our immediate focus is primarily on assessing the rated entities’ overall financial flexibility, including their liquidity position and access to funding to support refinancing and ongoing growth initiatives," the ratings agency said. "Nevertheless, these adverse developments are likely to reduce the group’s ability to raise capital to fund committed capex or refinance maturing debt over the next 1-2 … [Read more...] about Adverse developments likely to reduce Adani Group’s ability to raise capital: Moody’s on Hindenburg report
VICTOR DAVIS HANSON: Race Everywhere
Recently an unarmed 29-year-old African American, Tyre Nichols, was brutally beaten to death by five Black Memphis police officers. They were charged with murder. All belonged to a special crime unit known as “Scorpion.” Both the victimizers and victim were black. The Memphis police chief is black. The assistant police chief is black. Nearly 60 percent of the police force is black. The white population of Memphis is about 25%. The now-disbanded Scorpion unit of mostly black officers was created as a response to grassroots appeals to stop spiraling crime in mostly black neighborhoods. The death of Tyre Nichols could be attributed to many things: a basic lack of humanity on the part of the officers, poor police training, lax administrative supervision, and lowered hiring standards. Instead, no sooner was the beating death announced than accusations of “systemic racism” surfaced. Van Jones, the former Obama Administration green czar and recent recipient of Jeff Bezos’ … [Read more...] about VICTOR DAVIS HANSON: Race Everywhere
How Is Musk Going To Pay For Tesla’s Chinese Gigafactory?
Share to Twitter Share to Linkedin A future customer sits in a Tesla vehicle during a visit to a Tesla showroom in Beijing on July 4, ... [+] 2018. WANG ZHAO/AFP/Getty Images Fresh off hitting an elusive production target for the Model 3 electric sedan—and a weekend offer to help rescue the young soccer players trapped in a Thai cave—Tesla CEO Elon Musk popped up in Shanghai to unveil plans for his long-held goal of a massive Chinese plant. What wasn't mentioned was how Tesla will cover the facility’s multibillion-dollar price tag. Dubbed Gigafactory 3, the project envisioned for the Shanghai Lingang industrial zone will be able to build 500,000 electric Teslas a year, as well as all the batteries and motors they’ll need, according to a city government statement provided by Tesla. The plant, which Shanghai said would be the largest foreign-backed industrial project in its history, could also cost as much as $5 billion, according to Robert … [Read more...] about How Is Musk Going To Pay For Tesla’s Chinese Gigafactory?