Fernando Alberca | Tesla backs down on bitcoin. The electric vehicle manufacturer has suspended the use of bitcoin as a means of payment to buy its products. The reason for this decision was given on Twitter by the CEO of the company himself, Elon Musk, on Thursday May 13 shortly after midnight. “Tesla has suspended the purchase of vehicles with bitcoin. We are concerned about the rapid increase in the…
European Views | The number of electric vehicles plying the road is projected to jump to 145 million over the next nine years if governments globally continue to beef up efforts to meet international energy and climate goals. ccording to a report by CNBC citing the International Energy Agency’s Global Electric Vehicle Outlook, the number was even expected to rise further to 230 million by the end of the decade.
Rob Hansen ( Vontobel AM) | Tesla was one of the highest-flying stocks in 2020. While optimism about the future of electric vehicles (EVs) is understandable, Tesla’s current valuation reflects aggressive assumptions about its dominance of the electric vehicle market and its array of ancillary businesses.
After being hyped up by CEO Elon Musk in the run up to it, Tesla’s ‘battery day’ disappointed investors, as the new innovations unveiled remain years away. The firm’s share price closed the day 5.6% down, then slumped further in after-hours trading, after Musk clarified that some of the technologies showcased are “close to working” and require a “a ton of work from here to there.”
Manuel Moreno Capa | From a practical point of view for the investor, Tesla is not really a car company. As opposed to selling cars, what it actually sells are expectations, future, potential. More or less the same as what many “dotcom” firms sold. That’s why its stock price is so crazy. But if at some point it became a simple car manufacturer, it would end up being valued as rigorously as the rest of the sector, irrespective of how advanced its models were.
BEIJING | By W. Jiapeng, H. Haoyi, Z.Shiyun and G. McCubbing via Caixin | The second time around to China has offered much more promise than the first some two years ago, Elon Musk, founder and CEO of Tesla Motors Inc, said in an interview with Caixin. In three or four years, Musk plans to have cars produced in China, which will mean setting up a joint venture with a local partner, influencing the car industry to move faster in the direction of electric cars.