Tesla’s growth could reach trillions - Chamath Palihapitiya
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.