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Elon Musk is calling for the next recession to occur sooner than most people think. He has also issued a stark warning on Tesla’s electric vehicle peers, specifically Ford, which he believes will not survive the next recession. Both Ford and General Motors have billions of dollars of debt on their balance sheet, which even outweigh the value of the companies themselves. Tesla has been paying off debt and is ready to test the resilience of the company with a recession that may finally prove Elon Musk right about the EV industry. At the same time, Fed Chair, Jerome Powell is planning to raise interest rates, while the economy is facing chip and battery shortages. Even JB Straubel, Tesla co-founder, has stated that automakers are not prepared in terms of battery capacity, to produce enough EVs.
#Tesla #ElonMusk #CanTeslaSurviveRecession
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