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Elon Musk will get extra dangerous information as rival launches the anti-Tesla

News Team by News Team
April 29, 2025
in Business
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Elon Musk will get extra dangerous information as rival launches the anti-Tesla
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Regardless of the bump that it obtained final week after Elon Musk’s earnings announcement, Tesla  (TSLA)  continues to be dealing with an uphill battle. Shares kicked off this week by falling, suggesting that the inventory’s momentum could also be short-lived.

With Musk saying that he plans on reducing again his work with the Division of Authorities Effectivity (DOGE), many buyers rejoiced, and the market reacted effectively, regardless of the vagueness of Musk’s assertion. Now plainly the hype is already cooling off, only a few days later.

💵💰Do not miss the transfer: Subscribe to TheStreet’s free every day e-newsletter 💰💵

TSLA inventory nonetheless has fairly a little bit of floor to make up, having declined greater than 27% year-to-date (YTD). Given the corporate’s disappointing Q1 earnings report, the corporate might want to present buyers that it’s able to turning issues round.

Sadly for Tesla, one in every of its key markets is getting much more crowded. One in every of Musk’s greatest rivals has a brand new enterprise that might imply extraordinarily dangerous information.

Tesla CEO Elon Musk may soon have even one more problem on his hands.Image source: TheStreet/Getty
Tesla CEO Elon Musk might quickly have even yet another drawback on his arms.Picture supply: TheStreet/Getty


As Tesla’s earnings revealed, the corporate has been having plenty of hassle promoting its automobiles. Whereas the electrical automobile (EV) market stays sturdy, shopper sentiment towards Tesla has severely compromised its development on a worldwide scale, as backlash for Musk’s political affiliations continues to unfold.

One product that has confirmed tough to maneuver is the Cybertruck. Musk hyped Tesla’s futuristic pickup truck as the corporate ready to roll it out. However as TheStreet just lately reported, photographs have proven that Tesla is storing a stunning quantity of those automobiles in parking heaps, clearly unable to promote them.

Associated: Key analyst believes Tesla and Elon Musk are working out of time

Now the marketplace for electrical vehicles has a key participant, one who’s already competing with Musk on a number of fronts. Amazon founder Jeff Bezos is backing a fast-growing EV startup referred to as Slate Auto that’s promoting customizable electrical pickups with a considerably lower cost tag than the Cybertruck.

Based in 2022, the startup operated in stealth mode till this yr, busting onto the scene with a splash that turned many heads, seemingly together with Musk’s. The least costly Cybertruck is at the moment priced at roughly $69,990, whereas Slate’s electrical vehicles begin at solely $25,000, a worth that falls under $20,000 with EV tax credit.

Slate CEO Chris Barman is a mechanical engineer who spent the majority of her profession at Chrysler, serving to the corporate scale a number of operations. She believes that her group is uniquely positioned to create an inexpensive electrical truck that different corporations can’t, highlighting their progressive modeling and design work.

“By the tip of 2027 or early 2028, we’re [producing] 150,000 items a yr,” she states. “We expect persons are going to say, ‘Wow, now I can afford a brand new automotive on the newest security requirements, with a full guarantee that may give me stability for the following 5 to 10 years.”

Extra Tesla Information:

If Slate can efficiently execute on this, the corporate could have pulled one thing off that Musk has not been in a position to accomplish. The Tesla CEO spent years teasing a $25,000 automobile, solely to scrap the initiative final yr, disappointing many shoppers who had needed to personal a Tesla.

Now, one in every of his rivals is taking a serious step towards beating him to the market.

For years, specialists have speculated as to which firm ought to be thought of the “Tesla-killer,” or the corporate with probably the most skill to dethrone Musk as chief of the EV race.

Associated: Consultants sound alarm on Elon Musk’s misguided Tesla plan

Many specialists advised Rivian as a probable candidate, pointing to the EV startup’s modern vehicles and trendy-looking SUVs. However now plainly Slate is in a superb place to rival each corporations, because it prepares to begin rolling out visually interesting electrical vehicles at a a lot lower cost tag than both automaker.

As TechCrunch notes, the Slate pickup is a stark distinction to the Cybertruck. “It’s inexpensive, deeply customizable, and really analog,” the outlet experiences. “It has handbook home windows and it doesn’t include a predominant infotainment display.”

It provides that the automobile may even rework from a pickup truck into an SUV with extra seats.

The truth that Bezos has invested in an organization producing an anti-Tesla product means that he stays dedicated to taking Musk down. His area exploration firm, Blue Origin, already rivals SpaceX. Now he’s gearing as much as compete with Musk within the EV market as effectively.

Associated: Veteran fund supervisor unveils eye-popping S&P 500 forecast

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Regardless of the bump that it obtained final week after Elon Musk’s earnings announcement, Tesla  (TSLA)  continues to be dealing with an uphill battle. Shares kicked off this week by falling, suggesting that the inventory’s momentum could also be short-lived.

With Musk saying that he plans on reducing again his work with the Division of Authorities Effectivity (DOGE), many buyers rejoiced, and the market reacted effectively, regardless of the vagueness of Musk’s assertion. Now plainly the hype is already cooling off, only a few days later.

💵💰Do not miss the transfer: Subscribe to TheStreet’s free every day e-newsletter 💰💵

TSLA inventory nonetheless has fairly a little bit of floor to make up, having declined greater than 27% year-to-date (YTD). Given the corporate’s disappointing Q1 earnings report, the corporate might want to present buyers that it’s able to turning issues round.

Sadly for Tesla, one in every of its key markets is getting much more crowded. One in every of Musk’s greatest rivals has a brand new enterprise that might imply extraordinarily dangerous information.

Tesla CEO Elon Musk may soon have even one more problem on his hands.Image source: TheStreet/Getty
Tesla CEO Elon Musk might quickly have even yet another drawback on his arms.Picture supply: TheStreet/Getty


As Tesla’s earnings revealed, the corporate has been having plenty of hassle promoting its automobiles. Whereas the electrical automobile (EV) market stays sturdy, shopper sentiment towards Tesla has severely compromised its development on a worldwide scale, as backlash for Musk’s political affiliations continues to unfold.

One product that has confirmed tough to maneuver is the Cybertruck. Musk hyped Tesla’s futuristic pickup truck as the corporate ready to roll it out. However as TheStreet just lately reported, photographs have proven that Tesla is storing a stunning quantity of those automobiles in parking heaps, clearly unable to promote them.

Associated: Key analyst believes Tesla and Elon Musk are working out of time

Now the marketplace for electrical vehicles has a key participant, one who’s already competing with Musk on a number of fronts. Amazon founder Jeff Bezos is backing a fast-growing EV startup referred to as Slate Auto that’s promoting customizable electrical pickups with a considerably lower cost tag than the Cybertruck.

Based in 2022, the startup operated in stealth mode till this yr, busting onto the scene with a splash that turned many heads, seemingly together with Musk’s. The least costly Cybertruck is at the moment priced at roughly $69,990, whereas Slate’s electrical vehicles begin at solely $25,000, a worth that falls under $20,000 with EV tax credit.

Slate CEO Chris Barman is a mechanical engineer who spent the majority of her profession at Chrysler, serving to the corporate scale a number of operations. She believes that her group is uniquely positioned to create an inexpensive electrical truck that different corporations can’t, highlighting their progressive modeling and design work.

“By the tip of 2027 or early 2028, we’re [producing] 150,000 items a yr,” she states. “We expect persons are going to say, ‘Wow, now I can afford a brand new automotive on the newest security requirements, with a full guarantee that may give me stability for the following 5 to 10 years.”

Extra Tesla Information:

If Slate can efficiently execute on this, the corporate could have pulled one thing off that Musk has not been in a position to accomplish. The Tesla CEO spent years teasing a $25,000 automobile, solely to scrap the initiative final yr, disappointing many shoppers who had needed to personal a Tesla.

Now, one in every of his rivals is taking a serious step towards beating him to the market.

For years, specialists have speculated as to which firm ought to be thought of the “Tesla-killer,” or the corporate with probably the most skill to dethrone Musk as chief of the EV race.

Associated: Consultants sound alarm on Elon Musk’s misguided Tesla plan

Many specialists advised Rivian as a probable candidate, pointing to the EV startup’s modern vehicles and trendy-looking SUVs. However now plainly Slate is in a superb place to rival each corporations, because it prepares to begin rolling out visually interesting electrical vehicles at a a lot lower cost tag than both automaker.

As TechCrunch notes, the Slate pickup is a stark distinction to the Cybertruck. “It’s inexpensive, deeply customizable, and really analog,” the outlet experiences. “It has handbook home windows and it doesn’t include a predominant infotainment display.”

It provides that the automobile may even rework from a pickup truck into an SUV with extra seats.

The truth that Bezos has invested in an organization producing an anti-Tesla product means that he stays dedicated to taking Musk down. His area exploration firm, Blue Origin, already rivals SpaceX. Now he’s gearing as much as compete with Musk within the EV market as effectively.

Associated: Veteran fund supervisor unveils eye-popping S&P 500 forecast

Tags: antiTeslaBadElonlaunchesMusknewsrival

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