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Business

Elon Musk for General Motors: Take it on




In an interview for CBS "60 minutes" Tesla CEO and Silicon Valley billionaire were asked for competition from General Motors (GM), who announced last month that it puts thousands of Workers like

Musk appeared without concern.

"If anyone comes and does a better electric car than Tesla and it's so much better than ours that we can not sell our cars and we go bankrupt, I still think it's good for the world," said Musk Leslie Stahl during the interview The clip was shared online before full broadcast on Sunday.

"The whole point in Tesla is to accelerate the arrival of electric cars and sustainable transport," he said. "We try to help the environment, we think it's the most serious issue of humanity face

Make EV's sexy

Musk founded Tesla in 2003 after drawing millions of eBay's sales of Paypal. His goal was to take on government auto giants and convince consumers that all electric vehicles can be safe, reliable and sexy.

He succeeded in most accounts. Tesla has accumulated a loyal fan base for its luxury electric vehicle, and the company is working to reach the mass market. The latest The car, model 3, is closest to a price point starting at $ 35,000.

Tesla has sold almost 500,000 cars worldwide, accounting for about 20% of all the full electric vehicles on the road today, according to a recent estimate from Navigant Research.

Legacy car manufacturers now play for the EV market. Nissan introduced the electric blade at the end of 201[ads1]0. And GM debuted Chevy Bolt EV two years ago.

Tesla (TSLA) has outsourced these vehicles in the United States, but some experts wonder if the Tesla government is in danger.
Volkswagen recently announced that it will bring $ 50 billion to an electric vehicle "offensive" with plans to sell millions of all electric cars in the coming years. The company will sell luxury cars under the Audi and Porsche brands, and it may debut mass market cars that undermine Tesla on price, "said Volkswagen CEO Herbert Diess. The company plans to do so by hype its mass production expertise.

Teslas Road Forward

Production Scaling proved to be difficult for Tesla when it debuted model 3. The company suffered several delays due to hanging on the assembly lines.

Access to itself cost Tesla millions and required off-beat solutions that confused some investors.

"It was life or death," Musk said to Stahl. "These games against the company were right after all the conventional standards we would fail, but they just did not count on this unconventional situation to create a gathering line in a car park in a tent."

Tesla showed that some critics were wrong with their latest earnings report in October. The company achieved a net profit of $ 312 million, undoubtedly the largest ever and the first quarterly earnings since 2016.
However, about 9 billion dollars of debt bills are due to the company in the coming years, Goldman Sachs said in September. And Musk told recent investors that Tesla does not plan to raise more money to finance its future, even as it introduces new vehicle models and opens factories in Shanghai and Europe.

"We could certainly raise money, but I think we do not need it," Musk said in October. "And I think it's better discipline not to."

In his 60 minute interview, Musk also drove the possibility that Tesla could expand its footprint in the United States. He said that Tesla would be interested in taking over part of the factory space. GM said it will leave during the restructuring.
The company's current venue in Fremont, California, also has a history of GM. The plant was powered by GM and Toyota before Tesla took over in 2010.



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