Big investor stops his bets against Tesla

The investor explains his change of heart in a report published on his website, Citron Research, on the disruption of the auto industry, currently dominated by Tesla. As a result, no other supplier has recently sold more luxury and electric vehicles in the United States than the company in Palo Alto, California. Tesla is therefore the market leader in all major categories and "attracts not only BMW and Mercedes customers, but also Toyota and Honda," writes left.

In particular, the development of Model 3 seems to have convinced the investor. Five years ago, he predicted that Tesla's mbad-market vehicle would have to compete with a multitude of competing vehicles that would be on the market by then. But this fear, if left, has not yet been realized.

Despite his turn, Left has not forgotten that Tesla's boss, Elon Musk, had recently cost him a lot of money when he announced on Twitter that he wanted to bring the automaker to a price of $ 420 per share on the stock market. Newspapers then exploded and provoked a loss of nearly two million dollars by the seller. At his complaint, which he then brought against Musk and Tesla, the left wants to continue to hold.

At the same time, the recent recovery should be partly related to Tesla's announcement of its third-quarter earnings on Wednesday, rather than its usual beginning in November. The last time the automaker released its third quarter results in October, sales were 21% higher than expected. Musk promised investors, a few months ago, out of this red the previously deficient society chronic.

Musk has long been trying to make the company profitable. The company has high debts and spends tons of money to support its business. To reduce costs and keep investors happy, Mr. Musk laid off approximately 4,000 employees during the summer.

On Tuesday, the boss of Tesla announced via Twitter that the interior design possibilities of models S and X are reduced. To simplify production, "many design options" will no longer be available after November 1, said Musk.

The Tesla configurator shows that the S 75D model and the more expensive model, the S 100D, are currently available in five different interior variants, four of the five options replacing the wood with carbon fiber elements. The S P100D model has only two interior variants.

With the X model, it does not seem different. According to the CNBC broadcaster, the model is the most complex vehicle of the group currently produced; this also because of the extraordinary double doors. According to the report, Tesla customers have so far been able to equip the car with six or seven seats.