Tech

Musk: Tesla could merge with other manufacturers

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Elon Musk does not rule out a merger of Tesla with traditional manufacturers from the industry. “We will definitely not start a hostile takeover attempt,” Musk emphasized on Tuesday (December 1, 2020) at an award ceremony in Berlin. But if a competitor thinks “it would be a good idea to merge with Tesla,” they’ll talk about it.

Thanks to the trend towards electromobility, Tesla has become by far the most valuable automaker in the world with a market value of around 550 billion US dollars. That gives Musk plenty of leeway to use Tesla stock as an acquisition currency. The other automakers play in a different league when it comes to market value. Volkswagen is currently worth around 78 billion euros, Daimler a good 60 billion euros and BMW around 44.5 billion euros.

At the same time, shortly before Musk’s appearance in Berlin, an email was announced in which the Tesla boss calls on his employees to be thrifty, also with a view to the share price. Musk pointed out, among other things, that Tesla is currently improving profits by selling CO2 emission rights, while the actual core business earns little money.

“Investors give us an advance on future profitability. But if they should decide that it does not come to that, our stock is immediately crushed – like a soufflé from a sledgehammer,” the financial service quoted as saying Bloomberg from Musk’s mail. To make Tesla vehicles cheaper, “we have to get smarter when it comes to spending,” he stressed. Musk had promised a Tesla priced at $ 25,000 in three years.

With the completion of the Tesla factory in Grünheide near Berlin, he will spend more time in Germany, said Musk. The US company plans to build up to 500,000 electric cars per year in the plant from next summer. In addition, Musk recently announced that part of the factory would eventually become the world’s largest battery manufacturer.

Among other things, relatively affordable living space contributed to the decision to relocate the European Tesla plant near Berlin, said Musk. The plant is said to have around 12,000 employees. When Springer boss Mathias Döpfner asked where he would be spending the night on Wednesday, Musk said he would sleep in a conference room in the still unfinished factory in Grünheide. “It gives me a very good sense of what’s going on,” he said. Among other things, Musk slept in a conference room at the main factory in California during the difficult production start-up of the currently most important Tesla vehicle, Model 3.

Musk also said that in a decade, the majority of new vehicles will have autonomous driving capabilities, he believes. At the same time, for the time being, there will be situations in which people like to drive themselves. “But it will be increasingly unusual to drive your own car.” Tesla’s software, which can relieve drivers of the control of the car in most situations, should be ready for the market next year, even if the approval by the legislators could take longer. Unlike most other developers, Musk wants to get along with cameras and radar sensors for autonomous driving.


(mfz)

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