Elon Musk, in his role as the CEO of Tesla, addressed various analysts’ questions after the company reported a decrease in revenue and profits in the latest quarter, attributed to a reduced number of vehicle deliveries – a first in several years.
Musk responded to analysts who believed he was spread too thin as CEO of multiple companies (Tesla, SpaceX, xAI, and also serving as CEO of X/Twitter) to fully focus on Tesla during this time. He clarified that he dedicates the majority of his time to Tesla and hardly takes breaks because he believes Tesla can still grow further.
In addition, Musk addressed other noteworthy points raised by analysts:
– He believes that once Fully Self-Driving (FSD) software is approved, there will be over 10 million autonomous Tesla taxis on the roads.
– Tesla is in negotiations to sell FSD licenses to another car manufacturer.
– The cost of batteries continues to decline steadily.
– A budget-friendly Tesla model is in the works, with no definitive timeline yet.
– Regarding employee layoffs, Musk likened companies to living organisms that must adapt and evolve as they grow. Companies cannot maintain the same structure indefinitely.
Musk advised investors who were skeptical about Tesla’s stock price to try out the latest FSD version, as it would provide a better understanding of Tesla’s vision.
Source: Business Insider
TLDR: Elon Musk, as CEO of Tesla, discussed various topics with analysts, addressing concerns about being spread too thin, future growth opportunities, the development of FSD software, cost reductions, upcoming affordable models, and the necessity for companies to adapt to change. Investors were advised to try the latest FSD version to gain a deeper understanding of Tesla’s potential.
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