Tesla Stock Surged After Elon Musk Slams Auto Industry
July 23, 2019—Tesla’s stock surged by nearly two percent after CEO Elon Musk slammed the auto industry in an interview, reports Market Realist.
Before the stock-jump, Musk said the auto industry “is just fairly slow to evolve, and it didn’t take electric vehicles really seriously until 2015, maybe 2014 you could say,” also saying other car competitors have “no soul.”
Musk also discussed why he thinks other automakers are having a hard time getting on Tesla’s level, saying that other car companies didn’t even try to compete with Tesla because they didn’t believe the company would succeed.
According to the article, Tesla recently cut its car prices and dropped the cheapest varieties of its Models S and X, and did this in an effort to simplify its car line-up.