California-based electric vehicle and clean energy company, Tesla Incorporation is one of the most popular electric car manufacturers in the world with 23% in the battery-electric segment. The brand has also retailed close to 250,000 units in 2018 and nearly 1 million units by 2020 with half a million units of the Model 3 sold worldwide. The Head Honcho also boasts to be the number 7 man on the Forbes 400 2020 list and ranked first on the Innovative Leader 2019 list by Forbes.
Tesla Inc’s stock has also reportedly tripled in the past six months but the top boss thinks that the company is overvalued and the actual profitability, is very low at around 1%. Earlier, Tesla CEO also mentioned that the investors were giving the company a lot of credits for future profits but if they decided to pull out at a given point the stock could get crushed. Furthermore, the brand did make profits in the last five quarters but was reportedly marginal and oftentimes reliant on regulatory credits.
Sources also suggest that the brand is not planning to make a hostile takeover but if a brand wanted to merge with Tesla the company would like to take the conversation further. This move could be focused on cost-cutting and to prevent the stock prices from falling. Recently, the brand has also made a remarkable claim of releasing a fully autonomous driving system as soon as 2021. The fully autonomous system is possible only in the area where jurisdiction will allow the technology to be employed.
Closer to home, Maharashtra Cabinet Minister of Tourism and Environment along with the Minister for Industries & Mining are in conversation with Elon Musk to make an investment in the State of Maharashtra. The potential investment will be in-line with the Governments developments for sustainable growth in the mobility segment. The Government of Karnataka is also in preliminary talks with Tesla to set up a research and innovation unit as well as an electric vehicle (EV) manufacturing unit in the city.
Tesla Inc. Gigafactory in Nevada, USA.