Some embarrassing news for Tesla (TSLA).
New data reveals the electric car maker is bad at (drumroll…) manufacturing cars.
In the clip above from his recent institutional call, Industrials analyst Jay Van Sciver discusses why he still doesn’t like where Tesla is heading.
And Van Sciver says despite some online criticism of his Tesla short call, he doesn’t hate “electric vehicles, the environment, or polar bears.”
In other words, he’s simply looking at the data. “I know people like to say it’s a technology company,” he says. “It’s not. It makes cars. It sells cars. All cars have a lot of technology in them and Tesla has been very innovative...but when is this getting better? It’s not.”
Making matters worse, when bigger, more established car companies start releasing electric cars over the next couple years, Tesla will face competitors which have been producing cars for over 100 years.
Watch the video above for more.