Tesla Investors Keeping The Faith

Tesla Investors Keeping The Faith

The person in charge of Tencent's stake in Tesla claims that the American electric carmaker would "keep blowing our minds" with technology even if CEO Elon Musk is preoccupied with Twitter. One of the biggest gaming and social media companies in the world, Tencent, bought a 5% interest in Tesla in 2017 for about $1.78 billion.

Chief “eXploration” officer (CXO) at Tencent, David Wallerstein, said they saw a huge potential in Tesla with EVs and but they also had a lot of respect for the way Elon was running the company. For Tencent, Wallerstein is responsible for making investments in cutting-edge technologies. He claimed that when Tencent made the investment, it wasn't entirely apparent that they would succeed and that EVs would stay in use.

Tesla has since grown to be among the biggest manufacturers of electric vehicles worldwide. In 2022, 1.31 million vehicles were delivered. However, investors viewed Musk's purchase of Twitter last year as a significant diversion for the billionaire at a time when Tesla required a steady hand. Over the past year, Tesla stock has decreased by around 62%. Despite the diversion, Wallerstein maintained his confidence in Tesla and feels it’s difficult for a CEO to focus if they are diverted by numerous enterprises, but he’s optimistic that they still doing great work.

As the number of electric car sales increases, he continued, there will certainly be a number of rivals, but it will "be really wonderful for the planet." Tencent is a prodigious investor in a wide range of sectors, including e-commerce and gaming. However, in response to China's tougher regulatory climate, the corporation recently sold some of its investment.

But Wallerstein is looking for investments in cutting-edge fields that can help in the struggle against major global issues like climate change. Tencent has invested in businesses including German "flying" automobile manufacturer Lilium and the Chinese electric vehicle Nio.

In 2019, Lilium, a Munich-based startup creating a ground-breaking on-demand air taxi service, unveiled its brand-new five-seater air taxi prototype. The new Lilium Jet was unveiled as the all-electric plane finished its first flight over Germany four years ago.

Tesla Cybertruck deliveries could reach 10,000 units in 2023

A well-known Tesla investor named Gary Black thinks the manufacturer will be able to produce 10,000 Tesla Cybertrucks by 2023. His words of encouragement come at a time when Cybertruck is still facing many uncertainties, including how long it might take for the EV manufacturer to fill millions of orders, while Tesla is sailing through difficult seas.

One of the automaker's most eagerly awaited and longest-delayed projects is the Tesla Cybertruck. Tesla unveiled the Cybertruck in 2019, but despite its abject failure to enter production, people have accused the automaker of making lofty promises while falling short of delivering on them.

There are still many unanswered issues around the Cybertruck, such as how long it might take the EV manufacturer to fulfill millions of orders. Despite its abject failure to enter production, people have accused the automaker of making lofty promises while falling short of delivering on them.

Elon Musk, CEO of Tesla, has often stated that the Cybertruck will launch in 2023. The initial production of this all-electric pickup truck is not expected to start until later this year, with a significant ramp-up most likely planned for the start of 2024. The electric pickup truck is already being tooled at the Giga Texas. More than two million orders for the Cybertruck have been received to date, according to the carmaker. In light of that and Tesla's planned start of the Cybertruck's production this year, Black might be on the right track.

In the last several months, Tesla has been able to increase production levels across all of its manufacturing locations worldwide. In comparison to 2021, the EV manufacturer was almost able to produce 50% more vehicles in 2022. In comparison to 2021, its deliveries also climbed by over 40% in 2022. In order to meet Gary Black's prediction that the automobile brand would deliver 10,000 Cybertrucks, the automaker must maintain its current velocity of expansion in terms of manufacturing and deliveries.