Elon Musk says Tesla working 1000 kilometers battery and hints that they prepare a compact for the European market: Parking a Tesla Model X in Berlin is not easy. Elon Musk discovered this recently, which led the CEO of the electric car company to hint that they are preparing a compact model for the European market.

"In Europe it would make sense to make a compact car," Musk admitted at a conference this Tuesday, adding that in the United States cars are usually larger.

"If you are trying to park in an urban environment with a lot of density, having a car that truly fits in the parking sites is important. I was driving around Berlin and it was a problem to find a space in which we fit," he admitted.

Musk also hinted that Tesla plans to hire designers and engineers in Europe as they finish building their factory in Germany. The company intends to produce in it also batteries, in addition to cars.

"Our cars with longer battery life have about 600 kilometers of autonomy, we believe that we can do much more in this section," Musk also said. "We have some long-term developments that could reach 1,000 kilometers," he said.

Elon Musk says Tesla working 1000 kilometers battery

Currently, the Model S is the only one that exceeds 600 kilometers of autonomy, according to the US authorities.

However, the road to improving battery life and battery life will be long, and Tesla will not be able to do it alone. During this year Musk already lamented the high cost of the chemical components of the batteries, and showed new designs that would allow Tesla to get more autonomy with the same materials as its consumers.

"As long as Tesla continues to lead the way in motor technology, the cost of batteries is lower now and will depend on how its new battery cell design works in the future," UBS analysts said in October. Tesla presented at its Battery Day a new battery design that would improve autonomy by 16% and lower costs to get an electric of about 21.000 euros.

Elon Musk says Tesla working 1000 kilometers battery


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Tesla could soon surpass the market capitalization of Warren Buffett's investor arm: why it would be a staggering milestone

Tesla reached 440.000 million euros of market capitalization this Tuesday, only 5% less than Warren Buffet's company, Berkshire Hathaway, which also broke a record by reaching 461.500 million euros at market close.

Elon Musk's company rose to 445,000 million euros during the trading session, demonstrating that it can reach the value of Buffett's conglomerate in the coming days.

The difference between the capitalization of both companies reflects the rise of more than 500% in Tesla shares since the beginning of the year. In October last year, its price was 10% of the current one.

In contrast, Berkshire securities have only revalued by 2,4% this year, with a gain of 4% for the Dow Jones index in the same period.

A chart shows how fast Tesla has reached Berkshire in terms of market capitalization:

The proximity between its capitalization and Tesla's is surprising given the large differences in its scale and financial strength.

Berkshire owns dozens of companies, including See's Candies, Geico, Precision Castparts and Burlington Northern Railroad, which together employ more than 390,000 people.

It also has a stock portfolio of approximately 193,000 million euros, including more than 84,000 million in Apple Securities and billions of euros in American Express, Bank of America, Coca-Cola and other leading companies.

Buffett's company entered 214.000 million euros and recorded 61.000 million in investment profits last year, with which it obtained a net income of 68.000 million euros. In addition, it had 115.000 million euros in cash and short-term investments at the end of March, enough to buy Tesla at that time, since its market value had fallen below 84.000 million euros due to the coronavirus.

Tesla, meanwhile, had about 48,000 full-time workers last year, less than an eighth of Berkshire's workforce. Musk's company generates about 21,000 million euros in sales — a tenth of Berkshire's revenue-and declared a net loss of 756 million euros. In addition, it only had 5,500 million euros in net assets last year, one-sixtieth of those of Buffett's company, which amount to 357,000 million.

Tesla investors are valuing it at 21 times last year's sales because they are betting on good growth, as it can dominate several markets with its technology, and expect it to become a world power.

However, it remains surprising that Tesla, at its current stage of growth, is already threatening to be more valued than one of the largest and most successful companies in the world.

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