Tesla’s growth could reach trillions - Chamath Palihapitiya

By Jonathan Campion
The CEO of Virgin Galactic has said that Elon Musk’s company is best placed to capitalise on the renewable energy boom...

Speaking to CNBC on Thursday 23 July, Mr Palihaptiya, who is also the CEO of Social Capital, commented that Tesla’s potential lies away from the cars that have brought the company its first wave of success. He thinks that the company will become synonymous in future with renewable energy.

"This is no longer about cars, that's the first wave of growth. I think people are pricing in an evisceration of traditional autos and an enormous shift to EVs, of which Tesla will get the disproportionate share. This is worth trillions of dollars."

Mr Palihaptiya went on to comment on Tesla’s worth to the business of decarbonization: "It is the leading hedge when it comes to electrification and decarbonization.

Tesla's expansion will only accelerate once more customers buy into its energy business. Utilities are among the most predictable, reasonable businesses, and Tesla's business portfolio will democratize energy generation and storage as the country shifts further to promoting renewable energy”.

"I underwrite this stock as a bet towards decarbonization, towards unregulated energy, and towards the ability for all of us to become our little micro utilities”.

Tesla’s phenomenal rise continues to gather pace. Its market cap is currently over $290bn, and its shares are up 280% year-to-date.

Share

Featured Articles

Inaugural trans-Atlantic flight highlights SAF importance

Virgin Atlantic’s first 100% SAF-powered flight from London to New York leads the way towards greener aviation fuels for long-haul journeys

IBM collaboration to boost fuel cell performance using GenAI

FuelCell Energy’s performance is set to be enhanced by Foundation Models, a form of GenAI developed by IBM, in support of transition to renewable energy

Schneider Electric exec shuffle boosts energy digitalisation

Number one sustainable company, as voted by Sustainability Magazine, Schneider Electric appointed leaders to manage the digitalisation of energy solutions

ManpowerGroup initiative aligns talent with renewable energy

Renewable Energy

Rolls-Royce develops SMRs for a low-carbon energy future

Sustainability

Chevron’s hydrogen investment and green energy endeavours

Renewable Energy