Tesla’s lack of pricing power is going to lead to its demise, Bob Lutz, former vice chairman of General Motors, told CNBC, two days after the electric automaker briefly topped GM’s market capitalization as the nation’s most valuable vehicle manufacturer.
But Lutz, a well-known Tesla skeptic, said Wednesday on CNBC’s “Squawk Alley” that “I think they’re doomed.”
“Their upside on pricing is limited. Everybody else sells electric vehicles at a loss,” he said. “The puts a ceiling on your possible pricing.”
Click here to watch the full interview from CNBC