Following Tesla’s Q3 2021 earnings report on Wednesday, a prior executive from the company has recommended to investors not to bet against the company – especially given the company’s gross margins.
Tesla’s Former President, Jon McNeill, said on Thursday that investors shouldn’t bet against Tesla, despite not currently being a shareholder in the automaker, according to a segment on CNBC.
On Squawk Box, McNeill said that Tesla’s stock is currently “priced to perfection,” but that the electric vehicle (EV) revolution will likely be a “multi-decade growth story” of which we’re just seeing the beginning.
In the interview, McNeill said, “The gross margins are approaching 30%, just to put that in perspective, that is three times the gross margin level at GM, and about six times the gross margin level of Ford.”
Tesla Shares New Images of Gigafactories in Texas, Shanghai and Berlin [PICS] https://t.co/7Fje8bFH9i
— TeslaNorth.com (@RealTeslaNorth) October 20, 2021
McNeill left Tesla in 2018 to become an executive at Lyft, though he now works as the CEO of DVx Ventures, a venture capitalist firm.
In addition to the company’s gross margins, McNeill pointed towards Tesla’s numbers year-over-year next to Ford, General Motors (GM) and others, in addition to the company “sitting now on $16 billion USD cash.”
Tesla is nearly ready to open its Gigafactories in Berlin, Brandenburg and Austin, Texas, and with 241,300 vehicles delivered in Q4, the company seems well-poised entering the fourth quarter.
As of writing, Tesla’s stock is up 3% for the day at $892 per share, as the company looks to set an all-time high again, soon.