GM Once Ignored Tesla At Its Peril, Says Nikola CEO: How Auto Industry's Dismissal Gave The Elon Musk-Led Company A 10-Year Jumpstart Over Rivals
Portfolio Pulse from Shanthi Rexaline
Nikola CEO Steve Girsky has stated that General Motors Corp. (GM) once dismissed Tesla, Inc. (TSLA) as insignificant, giving Tesla a 10-year head start in the electric vehicle industry. Girsky believes that Nikola has a similar opportunity as major companies are overlooking the zero-emissions trucking industry. Tesla's first-mover advantage has allowed it to scale up, improve manufacturing efficiency, and vertically integrate, maintaining its position as the leading global EV manufacturer.
September 20, 2023 | 6:40 am
News sentiment analysis
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NEGATIVE IMPACT
GM's previous dismissal of Tesla has left it behind in the EV race. This could potentially impact its future performance in the EV market.
GM's previous underestimation of Tesla has resulted in it lagging behind in the EV market. This could potentially impact its future performance and stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Tesla's early start in the EV industry, dismissed by GM, has allowed it to maintain its position as the leading global EV manufacturer.
Tesla's early start in the EV industry, initially dismissed by GM, has allowed it to scale up, improve manufacturing efficiency, and vertically integrate. This has helped it maintain its position as the leading global EV manufacturer, which is likely to positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100