- For Musk, there are certain factors of a recession both in China and in Europe and he sees with concern the Fed’s increase in interest rates, considering it excessive.
- Tesla’s earnings for the quarter were $1.05 per share, beating analyst estimates of 99 cents. However, the company has lost 45% of its value this year.
- Regarding the controversial issue of the purchase of Twitter, the CEO of Tesla spoke of the attempted transaction for 44 billion dollars
In an interview, the controversial billionaire Elon Musk spoke about the economic news of his company, the earnings report and about the decisions of the United States Federal Reserve.
For Musk there are certain factors of a recession both in China and in Europe and he sees with concern the Fed’s increase in interest rates, considering it excessive.
Asked by his company, Tesla, how it would fare in a possible recession, Musk was optimistic and unconcerned about it, arguing that “we are going full throttle, rain or shine (…) we are not reducing our production significantly. , with or without recession”
Tesla’s earnings for the quarter were $1.05 per share, beating analyst estimates of $1.03. However, the company has lost 45% of its value this year.
Musk sees Tesla doing well as electric vehicles replace gasoline cars:
“The general public realizes that the world is moving to electric vehicles and it’s silly to buy a new gas car right now because the residual value of that gas car is going to be so low, ” Musk said . . “So, we’re in a very good place” (…) “ I wouldn’t say it’s recession-proof, but it’s recession-resistant, because basically the people of Earth have made the decision in large part to move away from the cars of gasoline”.
Regarding the controversial issue of the purchase of Twitter, the CEO of Tesla spoke of the attempted transaction for 44 billion dollars. He is currently embroiled in a legal dispute with the social media company even though he recently changed course and said he would honor his purchase agreement.
Musk said he was “excited about where Twitter is” and that the company “has languished for a long time, but it has incredible potential. Twitter’s long-term potential is an order of magnitude greater than its current value.“
