Tesla, Inc. TSLA's entry into the $1-trillion market cap club has earned the company plaudits from all around. CEO Elon Musk, meanwhile, has a word of praise for rival German automakers.
What Happened: Musk's comments on the German automakers came when a Twitter user brought to Musk's attention that the German media is all over Tesla winning an EV supply contract from Hertz Global Holdings, Inc. HTZZ and reaching a $1-trillion valuation. The user also noted that the media highlighted the fact that Tesla's Model 3 is the top-selling car in Germany now, overtaking Volkswagen AG VWAGY's Golf and suggested this is an end of the era for the German car manufacturers.
Related Link: Why Tesla's Hertz Deal Is a 'Feather In Its Cap' And An Indicator Of Broader EV Adoption
Musk has a different take: the Tesla chief said the German automakers will rebound strongly and the companies have great talent.
German car manufacturers will rebound strongly. They possess great talent, which will not sit idle.
— Elon Musk (@elonmusk) October 26, 2021
In a threaded reply, Musk also said Tesla will soon be a German car manufacturer.
Related Link: Here's How Long Tesla Took To Reach $1 Trillion Valuation
Edge Rankings
Price Trend
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
