$TSLA

Electric dreams. Tesla's Shanghai Gigafactory will start production in May, says the head of Shanghai's Economic and Information Technology Commission. A plant normally takes up to two years to complete and Tesla only broke ground on the factory in January. This week, the American carmaker secured $500 million in Chinese bank loans to push construction forward. Meanwhile, Tesla rival NIO - a Shanghai-based EV start-up - dropped plans to build its own factory. NIO will continue manufacturing with its state-owned partner, JAC Motors. Quartz
 
Tesla Swerve

Remember three seconds (OK, 10 days) ago, when Tesla said it was closing most of its retail stores so it could sell its cars more cheaply? Now Elon Musk's car firm says it will reopen "a few stores in high visibility locations that were closed due to low throughput," but with fewer staff. This may have something to do with the fact that Tesla can't wriggle out of leases that tie it up until 2023. Oh, and it's raising its prices by 3% on average, though not for the $35,000 base-spec Model 3. Fortune
 
This story just gets crazier, now they're reversing the price cuts? Can't even hardly follow the newsflow anymore.

Is there any precedent in modern times for this degree of management incompetence and utter chaos at a $50bn company?
 
So the stock is down 2% premarket after introducing the pregnant M3, I mean Y. They couldn't even start an 8 pm show on time and Elon was blubbering a lot about the old cars. The end seems to be near...

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Bonus question: How the hell do they put 7 people into this? They must be Chinese...
 
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