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If Tesla made trucks, the valuation would be really stupid

Posted on | June 17, 2009 | No Comments

Tesla is a car company that is innovatively green and changing the world – if you believe the fanboys for them. Tesla is a company that stuck a battery in a Lotus Elise and charges too much for it – if you believe the haters. OK, so I am a bit of a hater even though I like the Lotus Elise (yes, I know it is not a truck). Autoblog reports today that the Tesla car company is valued at up to $1 Billion (with a B) dollars because they are selling this wonder car for $109,000 that only costs $120,000 to make. Huh?

Daimler (the old Dodge owner, remember?) just paid $50 Million for a 10% stake in the company and we all know how good their judgement was when it came to valuing the last car company they took ownership of. This valuation is at the low end, if you consider what Sharepost thinks the little electric car is worth. Speculation is running rampant about the intent of Daimler, but it is either not smart or not good if you ask me.

What kills me about this stupidity is that this is a car, and a new car company is building it. There is nothing really new here – an existing chassis, with existing battery technology, built by a company that doesnt know how to build cars and who doesnt have a dealer network.  How does this make it worth more than GM?

And of course the irony is – if Tesla built electric delivery trucks, not sexy sportscars then the valuation would be next to nothing.

Category: General Stuff
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