From the Editor's Desk

Tesla Is Not the Next Ford. It’s the Next Con Ed.

Of late, Tesla's cars have come to seem a bit hazardous. Their self-driving features have been linked to hundreds of accidents and more than a dozen deaths. Then, earlier this month, the company recalled its entire fleet of Cybertrucks. A mechanical problem that trapped its gas pedal, as InsideEVs put it, "could potentially turn the stainless steel trapezoid into a 6,800-pound land missile."Along the way, Tesla—which did not respond to multiple requests for comment—has defended its cars and autopilot software. As of last week, the company told federal regulators that the Cybertruck malfunction had not been linked to any accidents or injuries. But even resolving every safety concern may not stop Tesla's entire EV business from becoming a hazard. Yesterday afternoon, the world's most valuable car company released its earnings report for the first quarter of 2024, announcing that its net income had dropped 55 percent from a year ago. On an investor call shortly after, Elon Musk could offer only a vague euphemism to describe what has become an especially disastrous month: His car juggernaut "navigated several unforeseen challenges." Just in April, Tesla has announced its first drop in sales since 2020, recalled one line of vehicles and reportedly canceled plans for another, and begun mass layoffs. There are still, somehow, six days left for the month to get worse.


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