Opinions were hot and cold about Tesla’s recent Investor Day, much like they are about most of the US EV maker’s events. There are some people who seem blown away by anything Tesla or Elon Musk does (or plans to do), and there are others who are always let down since they were expecting more. Interestingly, former Ford CEO Mark Fields had positive comments to make about the event during a CNBC segment.
CEO Elon Musk and a whole host of Tesla executives and other team members talked for many hours last week about the company’s successes and future. It was a presentation that was likely to bore people who were waiting for eye candy, such as some new vehicle reveal or people test-driving cars, etc. The next day, Tesla’s stock dropped significantly and is still recovering.
That said, it appears former Ford CEO Mark Fields, who’s now a CNBC contributor, was impressed with Tesla’s event. He did admit that when you run an event that’s specifically geared toward investors, there are certain expectations. He says you typically talk about the company’s strategies, show off some new products, and reveal some concrete details and growth plans, financials, and the like.
While Tesla and its team spent a great deal of time talking about strategies, there was very little during the presentation that was concrete or tangible. However, Field believes Tesla used the event to share its successes with the world. The company was out to prove yet again that it’s the leader in the EV space by a huge margin and will continue to surge forward at its brisk pace.
Fields mentioned that even though automakers like Ford and Hyundai are moving forward with plenty of progress, Tesla is still one generation ahead. He said:
“And Tesla right now is one generation ahead of the other automakers. Tesla still has the leg-up on the competition, and I think they demonstrated that yesterday.”
The former Blue Oval chief added that we should expect many winners in the EV race. Just like the current automotive industry, there’s not just one main leader when it comes to gas cars. There are many brands that are doing things well, and sometimes their strengths are different from their rivals, which creates healthy competition. Fields noted that there will also be many losers as the transition unfolds.
Who will win the EV race? Which companies do you think will fade away? Leave us your comments below.
