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- The managers of Tesla's largest outside shareholder, Baillie Gifford, rarely speak in public.
- When they do, the electric car manufacturer is usually not the subject of the conversation.
- However, the company's partner, James Anderson, had given Elon Musk clear advice in the wake of a tumultuous year and multiple strategy changes.
- "Overall, you have to try not to give too many impossible goals, with specific dates for the establishment," he told Sun Valley's Bloomberg News.
Tesla CEO Elon Musk launched a bold investor speech earlier this year: one million robo-taxis on the streets by 2020, boosting the market value of electric vehicle manufacturers more than 1000% to $ 500 billion.
Even by Tesla's standards, the change in strategy was radical. So radically that even the largest outside shareholder in the company is asking Musk to stay focused on Tesla's primary mission.
"Overall, we must avoid giving too many impossible goals, with specific dates for the establishment," said James Anderson, partner of the Scottish investment firm Baillie Gifford, Bloomberg News Wednesday at Sun Valley, Idaho. where the world's tech giants are gathered this week for Allen & Company's annual summer conference.
Read more: Silicon Valley strikes Sun Valley – this is who is at billionaires summer camp in Idaho
"And I do not think we want a political shift," he continued. "I hope it's not too much to ask a major shareholder."
Baillie Gifford, who manages an badet of about $ 221 billion, has long remained silent about his participation in Tesla throughout the company 's most tumultuous 12 months. Even though the company's market value has dropped more than 37% from its recent highs in the midst of legal struggles with regulators, the company has refused to ask Business Insider to publicly talk about its investment in the company. .
Long-term investments
The decision to remain relatively calm, despite Tesla's recent unstable quarters, fits in with Baillie Gifford's desire to invest in long-term start-up companies poised for mbadive growth. It is also for this reason that the company has maintained its investment while other institutional investors, such as TD Ameritrade, have reduced their holdings.
Read more: A senior badociate at Baillie Gifford shares the similarities between Tesla, Amazon and the company's other extremely successful investments – and the way it identifies them very early
"We totally ignore the market," Baillie Gifford partner Stuart Dunbar told Business Insider in February. "No matter, we do not invest in the market, we invest in a handful of excellent companies."
"The only thing we are interested in is whether these companies are making enough operational progress to achieve their long-term goals, as we expect."
To close the interview with Bloomberg, Anderson reaffirmed his commitment and trust in Musk.
"The last thing we want to do – and I would be resilient about this – is to rein in some way the tremendous donations and extraordinary achievements of Mr. Musk," he said.
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