Monday, August 20, 2018

Starting to look a lot like vaporware.

Saudi Arabia is talking to an electric-car maker about a deal — and it's not Tesla.

This started coming through my feed last night and I rolled my eyes. Then Mr S. started sending me links of Tesla bears having some faith in this company. But I'm starting to wonder if this car is just going to be like Faraday Future and some of the others that never really get off the ground. To which I have seen many!

Why do I think this? I saw this car pretty much one year ago and I was actually pretty impressed by it. However, I also know they have been taking deposits for a YEAR now.

If I recall correctly this was about the price of a Tesla. Not a Ferrari. "Normal" people don't wait years for cars. Ferrari people do.

I personally find the fact that I haven't even seen one at a car show, or driving around The Valley fairly troubling for a car that's been taking deposits for a year. And they are just in Newark! Maybe I will drive out there and see if there are any signs of life one day.

I would assume they will be at Pebble Beach again his year and maybe I will change my mind. But just because a car company takes deposits doesn't mean they will deliver. And interest rates were very different a year ago. Can you imagine putting down a deposit for a car and the interest rates just keep creeping up and up and up? Some of those people are going to  pop out.

Personally I find this Saudi involvement a Hail Mary funding of last resort kinda thing. There is a fowl wind blowing in the Valley right now. It feels like the money isn't sloshing as much around.

Update - I'd just like to point out (if you didn't go to the link) the Saudi's want majority ownership of Lucid. true do you think this Tesla story is? Elon is never ever giving the Saudi's majority ownership.

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