Elon Musk, industry magnate and CEO of SpaceX and Tesla, said on Monday (28) that even with Tesla’s stock growing by 400% this year, he believes it „will be worth more in 5 years.
In an interview with Kara Swisher for The New York Times „Sway“ podcast, Musk said that even with the overvaluation of Tesla shares this year, he believes the future is even more promising for the company.
„I have already publicly stated that stock prices are high, and that’s well before the current level. But also if you ask me, I think if Binbot will be worth more than that in five years? I think the answer is yes.“
Musk also commented on sustainability and that even if adapting production and creating new technologies with this principle is challenging, especially economically, „Tesla has been able to achieve is to reach a production volume and have a positive free cash flow that is sustainable.
According to the tycoon, „Tesla is not currently in mortal danger, as it was, say, three years ago“. That’s because Musk considers that Tesla has accomplished something very difficult for a car maker, „it’s extremely difficult to achieve a production volume as a car maker and not die. And the only way for a new car company to enter the market is by manufacturing a car so attractive that people are willing to pay more for it“.
The week before, Musk confirmed that Tesla is producing its own battery cells in Fremont, California, and believes that in just three years the company will be producing a $25,000 standalone car.