After Musk's press conference yesterday, Tesla's stock price plummeted by 10% overnight, with a market value loss of 470 billion yuan.

Some say Tesla's black technology is far ahead, but others argue that autonomous driving has taken away drivers' jobs and is inhumane.

American investors think Musk is just making promises, but domestic news media are hyping the absence of steering wheels and accelerator pedals.

In the next five years, can Musk, who is in the United States, help Chinese fans achieve their American dream?

A bucket of cold water was poured on Musk's head.

Yesterday, many people watched Tesla's press conference and became more convinced that "the world is a huge makeshift troupe." The press conference of the world's top technology company started unprepared and ended hastily after a series of mishaps.

Although they announced eye-catching products, the commercial application has been postponed to 2027.

After watching the press conference, the media, who received red envelopes, could only boast about the lack of steering wheels and accelerator pedals, and really couldn't find any other highlights.Compared to China's quick-footed radishes, Tesla could be said to have risen early but arrived late to the market.

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The commercial application of humanoid robots is even further behind autonomous driving.

As an ordinary person, I must admit that the products created are very cool, just as I did in 2015 when I watched Tesla's promotional video, I believed that Tesla would leave a significant mark in the industrial history of human civilization.

However, a prototype is a prototype, and an idea is an idea; the commercial and capital markets are never short of ideas and products.

More importantly, can such products be mass-produced and applied?

The capital market is more concerned about how much profit this product can bring.

For this reason, Musk has suffered significant losses in the past, and due to overly advanced ideas, Tesla almost perished in the capital market.

This is also why, after Musk's press conference, Tesla's stock price plummeted by 10%.

This time, Musk's autonomous driving is likely to meet the same fate as Tesla's cars five years ago, dying due to difficulties in production.Chinese car companies have already surpassed Tesla.

In 2019, when Tesla's China factory had just begun construction, foreign media interviewed 5,000 Tesla owners. At that time, many people had very positive evaluations of this maverick who disrupted the automotive industry, believing that Musk had changed the world and had unlimited pursuit of Tesla's products.

However, five years later, when these people were revisited, many felt that Musk was no longer charming.

The leaders of Chinese car companies were even more pointed in their evaluation of Tesla, with some saying that Tesla was a flower in the California greenhouse, and others saying that there were many problems under the halo of Tesla.

After 2020, the praise for Tesla on the Chinese Internet reached an unprecedented height, with what is known as the real Iron Man, and sending humans to Mars is the light of humanity. Car enthusiasts' worship of Musk is no less than a religious fanaticism.

However, few people mentioned that in 2018, before China accepted Tesla, Musk was already on the brink of bankruptcy and once wanted to sell the entire vehicle business to Apple at a low price to ensure his own financial freedom.

Originally, Tesla, which was difficult to deliver, encountered the big short Jim Chanos in the U.S. capital market who openly criticized: Tesla's stock has no value.

Tesla's entry into the Chinese market was not without purpose. At least before entering the Chinese market, Musk had negotiated with Chinese leaders four times.

One wants the other party's vast market and manufacturing capabilities that are unparalleled in the world, and the other wants the added value brought by the other party's industrial overflow.

In this way, the cooperation was launched in a grand manner.It was only after Tesla entered China that Musk's myth was forged. In other words, without China's help and support, Musk and Tesla would be nothing.

However, in the past two years, it is evident that Musk's focus has not been on the Chinese factory, nor even on the automotive market. Looking back at the American stories Musk has told in recent years:

1. Starlink

2. Going to Mars

3. Acquiring Twitter

4. Issuing Dogecoin

Regardless of which story, the purpose is simple: it's all about money.

But when it comes to car manufacturing, Musk has indeed been left behind. In recent years, there have been almost no new models introduced. Many Chinese car companies, leveraging their own advantages, have already surpassed Tesla in the automotive field.

Musk's ideas cannot be implemented.The level of car manufacturing in a country is essentially a reflection of the country's manufacturing capabilities. Hence, the automotive industry is often referred to as the "crown of industrial manufacturing."

Compared to electronic products such as mobile phones and computers, car manufacturing is an industry that does not allow for any weak links. Capital, technology, talent, mass production, cost, management, and marketing—all must be at least at a passing level, and each should strive to be the best.

This is the main reason why Tesla succeeds in China but struggles when it returns to the United States and goes to Europe.

It is not difficult to handcraft a few million top-of-the-line luxury cars, but the challenge lies in manufacturing 100,000 mainstream models that ordinary families can use and love within a limited budget and timeframe. This is not a test of personal charisma but rather a reflection of a country's manufacturing prowess.

There can be no weak links; all seven subjects must be excellent in order to stand out globally.

Electric vehicles have made significant improvements compared to fuel vehicles in three main areas: the transformation of mobility, the transformation of intelligence, and the transformation of energy.

As we enter the era of smart cars, the manufacturing difficulty will increase exponentially. It requires a complex internet terminal and a significant increase in the use of time and frequency.

It's not just about car manufacturing; the process of transformation also requires investment in infrastructure, and the funds for this investment can only be accomplished through the will of the state.

Could the richest person build roads and bridges according to their own ideas, and designate lanes exclusively for autonomous driving?

Regardless of the path taken to achieve autonomous driving, a strong industrial foundation is indispensable. In other words, without China's powerful manufacturing capabilities, it would be impossible.In the month leading up to Musk's press conference, Luobo Kuaibao had already begun to impact traffic in some areas.