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Elon Musk wants investors Tesla Inc. (NASDAQ: TSLA) consider them a series of startups.
The electric car maker’s CEO discussed this at its latest third-quarter profit call, highlighting the individual units that make up Tesla.
Tesla components
“There are probably more than a dozen startups that are using Tesla effectively,” Musk said.
He described every major Tesla product line as a commissioning and every new system as a commissioning.
Since other auto companies don’t have their own sales and service departments, Tesla’s sales and service units could be startups, he said, adding, “The whole thing about autonomy is a startup”.
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Musk also referred to computer chip design and the supercharger network as startups.
“We may have been a little slow with some of the startups, but I don’t think any of them failed,” Musk said.
The car insurance
Musk called the insurance “substantial” and said it could be worth 30 to 40% of the auto deal to Tesla.
“It’s going to cost less and be better,” Musk said of potential Tesla auto insurance.
He mentioned a better feedback group and said he believed “a lot of people” would choose Tesla insurance.
Elon Musk zu HVAC
Tesla announced improvements to the vehicle heat pump, which led Musk to discuss the possibility of HVAC for homes.
“I think there is potential for an integrated home system that can generate, store, heat, cool, air filter, and purify electricity in a really tight package.
Tesla doesn’t have a prototype yet, but it’s “something that would probably be good to have,” Musk said.
Musk previously mentioned that HVAC is a future area that Tesla should address.
Why it matters
The automotive division of Tesla’s business is the largest source of revenue.
Musk has previously said – and confirmed in the quarterly call – that the energy business is likely to account for a larger share than the auto industry in the future.
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TechCrunch notes that Tesla, treating the various vehicle component departments as a collection of companies rather than a collection of departments, has helped it roll out updates to existing products at a rapid pace.
Musk said there were “no plans to outsource”. That just sounds like additional complexity ”.
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