Thursday, June 24, 2010

"Tesla CEO to investors: We're like Google or Apple" (TSLA; AAPL; GOOG)

Oh really?
The IPO is scheduled for June 29.
From cnet:
Tesla's Motors' prospects for becoming a 21st-century auto powerhouse have as much to do with its Silicon Valley culture as with its technology, CEO Elon Musk told investors.
During a video recording prepared in advance of Tesla's initial public offering, which could come as early as next week, Musk touted the combination of the company's auto industry and Silicon Valley roots as a key competitive advantage.
"We're closer to an Apple or a Google than we are to a GM or a Ford," Musk said, adding that Tesla doesn't suffer from a slow, bureaucratic culture. "There will not be anybody that will bring technology to market faster than Tesla."
The forthcoming Model S electric sedans will be as high-tech as they come, equipped with a 17-inch touch-screen computer and a design inspired by slick consumer electronics, he said. "The best way to add value to a product is to make it really good-looking and appealing."...MORE
God help the investors. Oh wait:

...electric vehicles have real cachet with consumers, which positions Tesla well for an enthusiastic reception with retail investors....