and make $3.7 billion of new investments, partly to support production of its lead electric vehicle, the F-150 Lightning. Boss Jim Farley’s task is to take the near-$16 billion of operating cash flow that its combustible engine business produced in 2021 and use it to build up a new electric-car companyRegister now for FREE unlimited access to Reuters.comTesla’s ability to trim workforce, is, in some ways, a validation of its more established electric business.
Plus, while Tesla became a leader in EVs by ignoring combustible engines, that means it doesn’t have a legacy business to fall back on. That makes it less diverse in the event that parts and inputs for EVs specifically become too costly to produce cars at a reasonable price. With Ford and GM both aggressively trying to steal market share, including by cutting prices
, Tesla becomes the tiring leader that is easier to run down. Musk may find his pole position becomes more curse than blessing.
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