Again, he focused on the benefits over time.
“We believe that Tesla, other companies making electric cars, and the world would all benefit from a common, rapidly evolving technology platform,” Musk said at the time. “Tesla Motors was created to accelerate the advent of sustainable transport. If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal.”
Now, Musk is building a $5 billion “Tesla Gigafactory” in Nevada that will revolutionize the lithium-ion battery industry. And much of that $5 billion will come from Tesla.
The batteries are used in Tesla’s cars, but also in mobile devices and laptops. When it reaches maximum capacity in 2020, its annual production of batteries will exceed the global production from 2013. According to Tesla, the plant will be able to supply power for more than 500,000 vehicles per year.
Musk’s innovative leadership is one of the reasons Money Morning’s Chief Investment Strategist Keith Fitz-Gerald is bullish on Tesla stock long-term.
“You hardly ever see this recognized in the mainstream media, but Tesla has one irreplaceable asset that also happens to be its greatest advantage over its competitors,” Fitz-Gerald said. “The company has been blessed with the most innovative CEO on the planet: Elon Musk.”
“Creativity as a thinker who can’t be boxed in by entrenched competitors, the ability to cheerfully put tens of millions of his own money behind his vision when necessary, a solid grasp of what technology means for the industry he operates in… all of these are great qualities in a CEO. Any company, big or small, is lucky to have a chief executive with just two of them. Tesla has all three in Elon Musk.”
We’re in the midst of the greatest investing boom in almost 60 years. And rest assured – this boom is not about to end anytime soon. You see, the flattening of the world continues to spawn new markets worth trillions of dollars;new customers that measure in the billions; an insatiable global demand for basic resources that’s growing exponentially; and a technological revolution even in the most distant markets on the planet. And Money Morning is here to help investors profit handsomely on this seismic shift in the global economy. In fact, we believe this is where the only real fortunes will be made in the months and years to come.