Elon Musk says he wants Tesla to be ‘slightly profitable’ long-term while exaggerating the timeline to full self-driving and counting on a flagging solar business, but that doesn't stop the stock from continuing its surge.
Tesla Inc. Chief Executive Elon Musk, who heads a company with a valuation approaching $300 billion, doesn’t want the electric-vehicle maker to be “super profitable.”
”We need to, you know, not go bankrupt, obviously, that’s important....But we’re not trying to be super profitable, either,” Musk said toward the end of Wednesday’s conference call. “FSD [fully self-driving] remains by far and away the biggest opportunity in the near term,” he said, adding that a huge improvement in the system will come “probably” later this year and “trump everything” in terms of reliability.
“It’s, like, amazing,” Musk said. “So, it’s almost getting to the point where I can go from my house to work with no interventions. Despite going through construction and widely varying situations. So, this is why I am very confident about full self-driving and functionality... by the end of this year. Because I’m literally driving it.”
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