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  • Voltaire Staff

Experienced investor like Warren Buffet should invest in Tesla, says Elon Musk



Tesla CEO Elon Musk has said billionaire investor Warren Buffett should consider investing in his electric vehicle company, which at present is facing tough competition from its Chinese competitors.


In response to a suggestion from a user on X, who recommended that Buffett sell his Apple shares and invest in Tesla instead, Musk said that such a shift would be "obvious" for the experienced investor.


"He (Buffett) should take a position in Tesla. It's an obvious move," he wrote in a post on X, formerly known as Twitter.


Although Buffett's Berkshire Hathaway, a multinational holding conglomerate, holds a stake in Chinese EV manufacturer BYD, it hasn't invested in Tesla, a major player in the EV industry.


This isn't the first time Musk has approached Buffett about potential investments.


Musk offered Buffett the chance to invest in Tesla during its infancy when its value was just 0.1 per cent of what it is today, amounting to less than $7 billion of its current valuation.


"Too bad he didn't invest in Tesla when it was 0.1% of today's value," Musk said in another post on X.


Tesla's financial performance has come under scrutiny, with the company reporting significant losses in the first quarter of this year. The electric car manufacturer saw a 55 per cent decrease in net profit, plummeting from $2.51 billion to $1.13 billion compared to the same period last year.


Image Source: Unsplash

 

 

 

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