Elon Musk Talks TSLA Stock, Battery Day Reactions

Rob Maurer

In a new interview on Kara Swisher's Sway podcast, Tesla CEO Elon Musk shared his thoughts on media coverage of Tesla's Battery Day, Wall Street's reaction, and Tesla's recently-elevated stock price.

"Smart people on Wall Street have, usually, not the faintest clue about manufacturing and how difficult it is. They think that once you have come up with a prototype, well, that’s the hard part and everything else is trivial copying after that. It is not. That is perhaps 1% of the problem. Large scale manufacturing, especially of a new technology, is somewhere between 1,000% and 10,000% harder than the prototype. I would really regard, at this point, prototypes as a trivial joke. The press coverage of this event was sad," said Musk.

The exchange between Musk and Swisher continued:

Kara Swisher

"OK, tell me why."

Elon Musk

"Most of the press takeaway was —"

Kara Swisher

"No battery."

Elon Musk

"A sad reflection of their understanding, really."

Swisher pressed Musk to explain it to them, then.

"I mean, I'll try. But I’m also not trying to convince people that much. The results will speak for themselves. The cells we’re talking about, we have produced many of them. We have had cars driving with those cells since May," Musk notes.

Tesla plans to ramp up production of their battery cells to 100 GWh/year in 2022 and 3,000 GWh/year by 2030.

As for the dramatic rise in Tesla's valuation over the last year?

"I think some critical mass of the market has concluded that Tesla will win, I guess. I mean, I’ve gone on record already as saying I think the stock price is a bit high. That was well before its current level. But if you also ask me, do I think Tesla will be worth more than this in five years? I think the answer is, yes."

For more news and analysis on Tesla, including a rumored investment in LG's battery business, please see the included video and be sure to follow Tesla Daily on The Street.


Disclosure: Rob Maurer is long TSLA stock and derivatives.

Comments (2)
No. 1-2

HI Great coverage as always.I think Sandy Murono the former 17 year ford engineer and tool and dye maker, The big ICE manufactures probably Wet themselves when they heard about the battery let alone the nu casting process. NO WAY will they ever catch up toTesla.so as I see it.Left to their own electric build out they will eventually flame out or buy power train components from Elon and stay somewhat relevant at best bcus Tesla has such a jump on evrbody else 😲 La Mont


So at $500/share, Tesla is worth as much as the entire worldwide car industry. So let’s say in 5 yrs, the total number of cars that will sell is 50 million in the world and let’s say Tesla can actually build and sell 50 million cars, what happens to all the other car manufacturers out there? They sell 0 cars?