- 9,49 €
Tesla is valued higher than both General Motors and Ford on the stock exchange, although Tesla has only reported a profit in 3 quarters since 2016. Clearly investors expect Elon Musk to deliver outstanding results, far above the standard 3 pct return in the staid automotive manufacturing business.
Elon Musk has revolutionized the way we make cars. It has not been all a smooth ride. The company almost went under again in early 2018. Elon Musk worked 22 hours a day and slept on the factory floor, trying to resolve production problems with the new Model 3.
Out went all the highly automated German production line and instead Tesla started from scratch, assembling the Model 3 by hand, and slowly introducing new less advanced automation.
Elon Musk saved the company. Together with his staff of 46,000 employees. In November 2018 production of Model 3 reached 1,000 per day, and this is well on the way to the promised goal of 500,000 Model 3 cars a year.
In the meantime USA entered a trade war with China. China introduced crippling tariffs on American made Teslas. Again, Elon Musk took a quick decision and broke ground on a new Gigafactory in Shanghai, China in January 2019. The plan is to produce a million cars here. The Chinese market is 22 million cars a year, so the ambitious goal is not unrealistic.
Elon Musk is a genius! As all geniuses he has his quirks, but that goes for lesser folk as well! The author wishes Tesla and Elon Musk all the best of luck!