While Tesla shares were sold off because it did not provide details on new electric car models at its investor day, former Ford Motor CEO Mark Fields delivered a speech at an investor day. He heard enough on the Internet to keep him confident about Tesla’s future. He believes that Tesla’s current technological level is a generation ahead of its rivals.
Former Ford CEO Fields
Fields said in an interview on Thursday that Tesla’s event on Wednesday was more like a traditional investor day, with CEO Elon Musk less bombastic than usual, but he wasn’t too sure. Can Tesla reach its goal of selling 20 million cars by 2030? Tesla also has other executives present at the event, which may assuage investor concerns that Elon Musk has been distracted too much by other business projects. They also discussed basic topics such as cutting costs, improving profit margins and electric vehicle charging infrastructure.
The key to winning the EV race, Fields said, is product appeal, software or user interface, cost control and consistent execution. While rivals like Ford and Hyundai are making great strides, Fields believes: “Tesla is now a generation ahead of the other automakers in terms of technology. Tesla still has an advantage over the competition, and I think they proved that yesterday. over that.”
Still, Fields predicts that the electric vehicle industry will ultimately be without a leader as the market continues to develop. “There are going to be some winners and there are going to be some losers because over time you’re going to see a proliferation of electric vehicles, I mean it’s a huge potential market,” he said.
Tesla’s investor day on Wednesday did not confirm any new models, disappointing investors and sending Tesla shares down about 7%. Instead, Elon Musk’s much-anticipated “Secret Vision Chapter Three” focuses on establishing goals for Tesla and expanding its role in achieving global sustainable development. In plans unveiled Wednesday, Tesla pledged to sell 20 million vehicles a year by 2030 and confirmed a new Gigafactory in Mexico that could allow the automaker to produce cars at prices below $30,000. car.
