Tesla currently finds itself in quite a dilemma: the company’s core business is in free fall, with Elon Musk at the helm.
However, now that Tesla’s stock is firmly in the “meme stock” category, it would likely crash without him pumping it.
Nothing can prove that Tesla is a meme stock that trades on vibes more than the stock going up 20% this week after it reported its worst earnings in years and came in way below expectations.
Tesla’s earnings trends point to a company in a difficult situation:
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Tesla’s vehicle deliveries have been declining since 2024, along with its automotive gross margins, despite a rise in EV sales globally.
Last quarter, Tesla would have lost money if it weren’t for the sale of regulatory credits, despite energy storage sales surging.
Energy storage is Tesla’s only silver lining. Still, the company has warned that it could become problematic since it relies on inexpensive Chinese battery cells, which are now subject to tariffs. Furthermore, the competition is intensifying with companies like CATL and BYD, which supply battery cells to Tesla’s energy storage products, having launched competing products.
With Tesla’s EV sales dropping, in part due to Musk alienating half of Tesla’s customer base, and in part due to his leadership pushing for autonomous driving rather than a more diverse vehicle lineup, the automaker is in clear need of new leadership.
Musk is becoming too political and controversial to be the face of a consumer product company, and he is splitting his time with six different projects, making significant mistakes in the process.
Under Musk, Tesla has launched a single new vehicle in the last 5 years, the Cybertruck, and it has been a total commercial flop. He has been consistently wrong about when Tesla would solve self-driving for the last 10 years. Most CEOs would have been fired by now.
At this point, it is difficult to argue that Tesla’s business would not benefit from new leadership.
However, there is one aspect of Tesla that would not benefit from Musk leaving: Tesla’s stock. It currently trades at an insane 165 price-to-earnings ratio amid declining earnings.
That’s unheard of in the auto industry, and it is also extremely rare in the tech industry, in which Musk attempts to position Tesla to justify such a high P/E even though most of its earnings are still tied to selling cars.
The only reason Tesla is currently able to maintain this is the fact that there are a surprising number of people who believe Musk when he says that Tesla is on the verge of solving “real-world AI”, which refers to self-driving vehicles and humanoid robots.
That’s it.
Tesla’s stock price has basically become an index of how much investors trust Musk’s claims about Tesla’s self-driving and robotic efforts – because no one can argue that it has anything to do with Tesla’s core business and fundamentals since those are in free fall and would justify Tesla trading at about a fifth of its current valuation.
Therefore, the stock price relies on people believing that Musk, who has been consistently wrong about Tesla solving self-driving and never releasing any data to prove otherwise, is right this time about Tesla being on the verge of solving the problem and ahead of the competition.
If Musk leaves, those people would likely take the stock with them, resulting in a potential crash.
Electrek’s Take
That’s quite the conundrum.. for some. For me, you save the business and not the stock. The stock will eventually come down at some point anyway. The business of selling millions of EVs is actually good for the world and employs about 100,000 people.
Musk has been able to keep things going for a long time, to his credit, with the hope that Tesla will eventually catch up to his hype, but it looks like the most likely outcome is that he can only keep things going until other companies start to scale their autonomous driving efforts.
Waymo is already completing 250,000 autonomous rides per week in the US. Musk has been able to make his cult ignore that by claiming that it’s not scalable, even though those weekly rides have more than doubled in the last year.
In China, Baidu, WeRide, PonyAI, and others are already becoming mainstream.
As those efforts become more popular and the number of people who use them regularly reaches the millions, it will become harder for Musk to present Tesla as a leader in autonomy while carrying a decade of missed deadlines.
I think Tesla has a real shot at solving general autonomy, but I believe it will happen closer to 2027-2028, with a new hardware suite. By that time, Tesla will have plenty of established competition, in addition to Waymo, and it will carry the significant liability of having promised self-driving capabilities on millions of HW3-4 vehicles that it cannot deliver.
This is not a great situation, and it’s entirely because of Musk.
However, he has his position at Tesla secured. Even Tesla shareholders who have serious doubts about Tesla’s self-driving efforts don’t want to oust him on the off-chance that he might be right. This points to most of Tesla’s value currently lies in the mystique of Musk being a “super genius.”
You often see it on social media. When someone criticizes Musk or Tesla, instead of providing a counterargument to the criticism, Musk fans will simply attack the messenger and ask: “Who are you to question Musk? How many rockets have you landed?”
This is cult behavior. You can’t question the leader. It’s a perilous situation that rarely has a happy outcome.
Musk is smart, and his companies have achieved incredible things under his leadership, but that doesn’t mean he is a super genius who can’t make mistakes.
He has been wrong many times and has lied on numerous occasions. He has proven himself willing to lie and mislead people for his own benefit. That’s not someone you should put your trust in. People, especially in the US, tends to assign a ton of value to someone who has amassed wealth.
I am not someone who automatically thinks someone is bad because they are a billionaire. However, I also know that if you are somewhat intelligent, connected to wealthy individuals, and have low morals, it is fairly easy to accumulate wealth. I think Musk fits this category with a messiah complex on top of it.
I am curious to know if anyone sees a way out of this conundrum for Tesla at this point. As a fan of Tesla’s original mission to accelerate the advancement of electric transportation, I believe Tesla can still contribute to that goal, but not with Musk at the helm.
Yet, the only people who can kick Musk out are Tesla shareholders, and as described above, they are incentivized not to push him out because it would likely lead to a significant decline in Tesla’s stock price.
What can be done? I’ll hang out in the comments to see if you have ideas.
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Baltimore County, Maryland, just brought its first large-scale ground-mounted solar farm online, and it sits on what used to be the Parkton Landfill. The 213-acre site, once a symbol of waste, is now generating clean power that will cut costs, slash emissions, and turn an underused piece of land into a long-term energy asset.
Located north of Baltimore City, Baltimore County is one of Maryland’s largest and most populous counties, and its push toward renewables has major implications for the state’s climate and energy goals.
County Executive Kathy Klausmeier called the project a clear example of innovation meeting sustainability: “We are cutting costs for taxpayers and making investments that benefit our communities for decades.”
The new solar farm will provide around 11% of the Maryland county government’s annual electricity, producing roughly 8.2 million kilowatt-hours (kWh) in its first year. That’s the equivalent of avoiding greenhouse gas emissions from burning over 620,000 gallons of gasoline, powering more than 1,150 homes for a year, or driving 14 million fewer miles in gas cars, according to the EPA.
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The 7 MW system includes four large solar arrays of 15,000 ground-mounted photovoltaic panels. It’s part of a growing trend in the US to repurpose capped landfills for renewable energy, turning dormant properties into productive clean energy sites.
Through a power purchase agreement with TotalEnergies, which owns and operates the system, Baltimore County will lock in reduced electricity rates for 25 years, with options to extend the contract for up to 33 years. That long-term deal protects taxpayers from future electricity price hikes while advancing local climate goals.
“Adding another large source of solar electricity to power our County’s facilities reflects our community’s values of making smart investments that take care of the health of our community and environment,” said Greg Strella, the county’s chief sustainability officer.
TotalEnergies Managing Director Eric Potts called the project a “powerful example of transforming underutilized assets into productive resources,” pointing to the dual benefits of cutting emissions and saving money.
Baltimore County’s next landfill solar project, at Hernwood, is expected to come online by 2028. Once that system is up and running, renewables will supply about 55% of the county government’s electricity use.
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The IONIQ 3 was spotted in public rocking a wild new look, just like the Concept Three Hyundai revealed last month.
The Hyundai IONIQ 3 draws looks from the Concept Three
We got our first look at the IONIQ 3 just over a month ago after Hyundai revealed the Concept Three at the Munich Motor Show.
The concept will arrive as the IONIQ 3 when it launches next year. Production is set to begin in early 2026 at Hyundai’s manufacturing plant in Turkey with the first customer deliveries shortly after.
Hyundai’s Concept Three is a preview of the new EV, set to arrive as a little sibling to the IONIQ 5. Like the concept, the IONIQ 3 is bringing a radical new look to the IONIQ series, which Hyundai said will set the tone for its next wave of vehicles.
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The new design theme, dubbed “Art of Steel,” is inspired by advanced steel technology. It features an Aero Hatch profile that Hyundai calls “a new typology that reimagines the compact EV silhouette.”
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)
The added lemon-tinted glass that wraps around the vehicle and wheels to match only adds to the electric hatch’s bold new look.
Hyundai kept a few design elements found on other IONIQ models, including its signature Parametric Pixel lights.
The Hyundai Concept THREE EV, a preview of the IONIQ 3 (Source: Hyundai)
With its official debut coming up, the IONIQ 3 was spotted driving in Korea with what appears to be a nearly identical design to the concept.
The video from HealerTVoffers a closer look at Hyundai’s new EV from nearly all angles. Although it’s still covered, you can see the front headlights are about the same. The only noticeable difference is that the turn signal lights are now above the headlight.
As the reporter points out, if you look at the headlights, tail lights, and radiator grille, it appears just like the concept.
Like up front, the turn signal is above the rear taillight. It also features a brake assist light similar to the Nexo, Hyundai’s fuel cell electric vehicle (FCEV).
The Hyundai Concept Three (Source: Hyundai)
Measuring 4,287 mm in length, 1,940 mm in width, and 1,428 mm in height, with a wheelbase of 2,722 mm, the Concept Three is about the size of the Volkswagen ID.3 and Kia EV3.
It will sit between the Inster EV and Kona Electric in Hyundai’s European lineup. Hyundai has yet to release prices, range, and other specs, but like the Kia EV3, it’s expected to be available with 58.3 kWh and 81.4 kWh battery packs, offering a WLTP range of around 365 miles.
Since the Kona Electric starts at £35,000 ($47,000), the IONIQ 3 will likely be priced closer to £25,000 ($33,700). For those in the US, the IONIQ is not expected to make the trip overseas.
However, Hyundai is still offering one of the most affordable EVs in the US with the 2026 IONIQ 5 starting at under $35,000.
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Hiboy launches new TITAN and TITAN Pro e-scooters with an up to 80-mile range, now starting from $1,001 (Up to $699 off)
As part of Hiboy’s ongoing Better Than Prime Day Sale, the brand has launched two new e-scooters that bring some serious power to commutes and joyrides, complete with bonus savings. You can now hop on Hiboy’s TITAN Electric Scooter at $1,001 shipped, after using the code HST9 at checkout for an additional 9% off, while Hiboy’s TITAN Pro Electric Scooter is down at $1,350 shipped, after using the code HSTP10 at check out for an additional 10% off. These two new models will carry full $1,700 and $2,000 price tags once the initial launch savings end, making this deal all the more enticing. While things last, you’re looking at $699 and $650 markdowns that save you some serious cash on some seriously powerful rides, while also setting the bar for future discounts down the road. You’ll find both these deals coming several hundred dollars under the TITAN and TITAN Pro Amazon pricing.
With these two new releases, Hiboy is showing folks just how fast and wild their e-scooters can get, with many often falling into the more budget-friendly realm. Things start with Hiboy’s TITAN electric scooter that arrives in futuristic industrial style, equipped with a 750W (1,000W peaking) motor and 48V 18Ah battery that provides up to 46 miles of travel at up to 25 MPH top speeds. Among its many features, you’ll find a dual suspension system, dual hydraulic brakes, 10-inch gel-filled tubeless tires, a wider-than-normal deck, zero-start capabilities and a half-twist throttle, a loud horn, dual headlights, a brake-activated taillight, ambient side lighting, a 3.5-inch LED color display, and more.
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On the other end of the series is the TITAN Pro e-scooter that brings more power and speed along for the ride. This supped-up model has been given dual 750W motors (each peaking at 1,000W) and a 48V 36Ah battery that not only ramps its possible top speeds up to 31 MPH, but also extends travel times up to 80 miles on a single charge. It brings along much of the same features as its base TITAN counterpart, with the main difference being the additional multi-function control buttons that allow you to switch between single and dual motor usage.
Anker’s extended Prime Day savings offer latest SOLIX F3000 station and bundles at new lows starting from $1,399
As part of Anker’s extended SOLIX Prime Day Sale, which is continuing through the rest of the week, you can still score the brand’s latest F3000 Portable Power Station (and bundles) at their best prices starting from $1,399 shipped for the station with a FREE protective cover (valued at $99), beating out Amazon’s post-Prime pricing by $100. It carries a $2,599 MSRP since releasing back in June, which we saw drop down to this rate for the first time on Tuesday, when Prime Day officially began. It’s now continuing through the rest of the week, giving you more time to jump on the $1,200 price cut and score it at the best price we have tracked. Head below for the full lineup of ongoing bundle deals too.
Mammotion’s YUKA Mini 500H and 700H robotic lawn mowers get $350 price cuts starting from a $649 low
By way of its official Amazon storefront, Mammotion is offering continued Prime Day savings on its YUKA Mini 500H Robotic Lawn Mower at $649 shipped, as well as its YUKA Mini 700H Robotic Lawn Mower at $849 shipped. These two models usually fetch $999 and $1,199 at full price, with this being the second-ever price cut to the YUKA Mini 500H’s all-time low with $350 cut from its tag, while the YUKA Mini 700H is getting the same sized price cut to its second-lowest rate – landing $100 above the one-time low that lasted only three days in September.
EcoFlow 48-hour flash sale drops 800W alternator charger to new $289 low, more from $104
As part of its extended Prime Day Sale, EcoFlow is offering a 48-hour flash sale on a power station, a generator, an alternator charger, and a DELTA Pro Ultra expansion battery bundle. The backup power solution amongst the bunch is the TRAIL 200 DC station, which you can score starting from $104 by checking out yesterday’s coverage. From there, it’s a matter of what kind of support or expansion you want to jump on, with the brand’s 800W Alternator Charger sitting at a lower-than-ever $289 shipped, for example, which also matches at Amazon right now. While it carries a $599 MSRP, we more often see it priced between $348 and $499, with some sales taking things lower. It was priced at $305 for the initial Prime Day savings, but is now falling even further to mark a new all-time low price and give you $210 off the going rate. Head below for the full lineup of flash deals.
Goal Zero’s 500 Lumen Torch Light that doubles as a solar-charging 5,200mAh power bank hits $38
Amazon is offering the Goal Zero 500 Lumen Torch Light at $37.89 shipped. Usually fetching $50 outside of discounts, this device dropped to $40 back April, with discounts since returning the costs to this same rate over the rest of the year – including for both July and this month’s Prime Day events. The savings seem to be sticking around after the event ended last night, giving you extra time to pick it up with $12 shaved from the tag at the best price of the year.
The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.
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