Tesla Motors Inc (NASDAQ:TSLA)’s detractors are a varied lot. They begin with the petty and continue well into the short sellers and state dealership organizations that lose money outright—or believe they will, based on each success the company enjoys. The latest criticism of Tesla Motors Inc (NASDAQ:TSLA), however, comes from an unexpected source, Green Car Reports, as reported by Forbes.
Tesla supercharging stations
Green Car Reports wrote last week that Tesla Motors Inc (NASDAQ:TSLA) wouldn’t make its self-imposed deadline of providing Model S sedan owners with 18 of its high-speed Supercharger stations up and running by the end of summer. Last week, when Green Car Reports bet against Tesla, there were nine in operation. Good bet? No.
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Today, Tesla Motors Inc (NASDAQ:TSLA) has 21 supercharger stations up and running, 3 more than it promised. The chargers in question can restore 50 percent of a Model S’ battery in just 20 minutes, where an 80 percent charge can be realized in 40 minutes. Those that purchase the Model S with the largest battery pack enjoy free charging, where those that opted for “cheaper” options will be charged a one time fee for the use of each of the present 21 superchargers.
Green Car Reports certainly lost some credibility in its gamble against Tesla Motors Inc (NASDAQ:TSLA) with statements like, “As the equinox looms, only nine of those 18 promised Superchargers have materialized. (Two additional stations have appeared that were not promised on the Summer 2013 map).”
The blog then proceeded to use a poor baseball metaphor to add extra eggs to its face.
“A .500 batting average is really good in baseball. But it’s pretty mediocre if you’re trying to fulfill company promises to eagerly waiting customers of your expensive electric car.” The company did speak to a Tesla spokesperson, Shanna Hendriks, who told the blog that another 5 sites were due imminently, but Green Car remained skeptical. “If Tesla can open the five new Superchargers by the deadline as promised, its summer Supercharger batting average will rise to .778.” (Emphasis added.) The blog doubted the company would get its act together by fall, either. “But will Tesla bat 1.000 next season? Probably not.”
Is Tesla Motors Inc (NASDAQ:TSLA) overvalued? Probably. Is Green Car Reports still relevant? Perhaps, but this didn’t help.
Check out the Forbes piece for more details on Tesla’s plans for the coming year. Plans I wouldn’t bet against it achieving.