Palo Alto: Tesla Inc Chief Executive Elon Musk said in a podcast launched on Friday that demand for the company’s electrical vehicles remained strong all through the coronavirus pandemic, with customers preferring to buy online.
Musk, speaking to Automotive News’ Daily Drive podcast, said having a standard seller community – one thing he thought of up to now – seems more and more pointless.
“We saw strong orders through the whole pandemic, we still had a good order volume,” Musk said. “I guess people are less inclined to want to go to a dealership, do the test drive and hang out in the lobby and that kind of thing.”
Asked a few 2020 meteoric inventory rally that has pushed Tesla shares up greater than 240% from the beginning of the year and made the company the world’s most highly-valued carmaker, Musk said the market would ultimately kind itself out. He added that so long as Tesla made nice automobiles, traders could be joyful.
In a May 1 tweet, Musk said Tesla’s share price was “too high,” at a time when shares the place buying and selling at round $700 – roughly half of the place they’re now. Shares on Friday had been down 2.2% at $1,454.
In the podcast interview, Musk additionally praised the Chinese work ethic and criticized U.S. attitudes.
“China rocks in my opinion,” Musk said. “There are a lot of smart, hard-working people and … they’re not entitled, they’re not complacent, whereas I see in the United States increasingly much more complacency and entitlement.”
Tesla has constructed a manufacturing facility in Shanghai and seen a pointy enhance in Chinese demand for its Model three sedans. The company just lately has additionally launched a hiring spree in Shanghai because it ramps up manufacturing and prepares to fabricate its new Model Y sport utility car on the plant.
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