Back in 2013, we wrote our first article explaining that Elon Musk was the “world’s top genius.” Since then, Musk has become the world’s richest person and his recent accomplishments continue to astound us.
World’s Top Genius
This year, Musk’s side hustle SpaceX helped to launch a new space tourism industry through a historic automated flight, Inspiration4, which took amateur astronauts above the International Space Station. In addition, Tesla launched a new Model S Plaid that became the first production car to “break the two-second barrier” (going from 0 to 60 miles per hour in under two seconds), and his neuroscience company Neuralink enabled a rhesus monkey to play the Pong video game using just thought signals.
In fact, these are only a few of Musk’s historic accomplishments this year as his companies work to penetrate new markets in utility power services, auto insurance, robots, broadband communications, and perhaps even smartphones at some point. Today, Tesla announced that Hertz has placed a record order for 100,000 cars which may equate to over $4 billion in revenue, sending Tesla’s market capitalization above $1 trillion for the first time.
This Hertz announcement also comes as Tesla raised the price on four of its EVs this weekend. In the past, Musk predicted that Tesla cars would gradually become autonomous and too expensive for individual buyers because rental fleets will acquire them as robotaxis. If Musk is correct, Tesla cars that are equipped for full autonomy could appreciate materially.
ETF PM has long positions in TSLA.
Tesla quietly raises prices on four of its EVs
The Model 3 and Model Y are $2k more, and the Model S and Model X are $5k pricier.
Kim Lyons, 10/04
Tesla quietly raised prices of four of its electric vehicles this weekend, a few days after the automaker announced a record $1.6 billion profit in its third quarter. First reported by Electrek, the base Model 3 and Model Y electric vehicles are each priced $2,000 higher, at $43,990 and $56,990 respectively. In addition, the base Model S and Model X vehicles will each cost $5,000 more, at $94,990 and $104,990.
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