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Elon Musk invites Warren Buffett to invest in Tesla: Know-why

As Tesla faces a rough time due to a global slowdown in EV sales, Elon Musk asked billionaire investor Warren Buffet to invest in his company. It is not the first time when Buffet was invited to invest in Tesla, as Musk invited him when the company was worth 0.1 per cent.

Edited By: Saumya Nigam @snigam04 New Delhi Published on: May 06, 2024 12:03 IST
Elon Musk, warren Buffett
Image Source : FILE Elon Musk invites Warren Buffett to invest in Tesla

Elon Musk, the billionaire who heads X (formerly known as Twitter, SpaceX and e-automobile company has reportedly invited Warren Buffett, a popular billionaire investor to invest in Tesla. Musk took the first move as the company reportedly faces tough times amid a global slowdown in EV sales.

Replying to an X user who posted that Berkshire Hathaway owner should sell all his shares in Apple and buy Tesla instead, the electric car company owner responded that it is an "obvious move" for him.

"He (Buffett) should take a position in Tesla. It's an obvious move," posted the X owner.

Buffett's Berkshire Hathaway has a stake in Chinese EV maker BYD but not in Tesla.

Last weekend, in response to a post quoting Buffett's advice about the importance of spending time with loved ones, Musk replied that he would love to spend the last day of his life with his kids.

Musk had even invited Buffett to invest in Tesla early on, when the company was worth 0.1 per cent, or less than $7 billion, from what it is today.

"Too bad he didn't invest in Tesla when it was 0.1 per cent of today's value," Musk posted on X recently.

ALSO READ Elon Musk heads to China to advocate for autopilot, a week after he postponed India visit: Report

The tech billionaire is trying to "reorganise" Tesla as the electric car company registered heavy losses in the January-March quarter this year.

The company's net profit plunged 55 per cent to $1.13 billion from $2.51 billion in the year-ago quarter.

Recently, Musk reportedly laid off the charging team of Tesla, which was unexpected and resulted as a surprise to everyone

Tesla's Supercharger network has to onboard top automakers like Ford and General Motors to use its connectors and has the connector technology known as the North American Charging Standard (NACS), which major automakers are adopting now.

The move was taken via an email to senior staff, where the CEO of Tesla told them to cut more employees who "does not pass the excellent, necessary and trustworthy test" or ask them to resign.

ALSO READ: Why did Elon Musk sacked senior Tesla staff?

Inputs from IANS

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