Elon Musk took advantage of the Plaid debut on Thursday to speak out about Tesla Inc (NASDAQ: TSLA) engineering capacity. The official speaks at a time when the company continues to face intense competition from battery-powered vehicles.
Musk’s take on the Model S Plaid
The company’s CEO billed their most recent product called the Model S Plaid, terming it a product that serves as definitive proof of the superiority of electric vehicles and what they have to offer.
Musk opined, “Why make this really fast car that’s crazy fast? “There is something quite important to the future of sustainable energy, which is that we’ve got to show that an electric car is the best car, hands down.”
A close outlook at the company’s dynamics
Analysts consider the Plaid deliveries to be an outstanding addition when speaking about the company’s product front. In other words, the deliveries spark great excitement. However, it is crucial to recognize that nothing changes in terms of Plaid maintaining its position as secondary to its aspirations in Model 3/Y.
Over the previous year, the company’s stock experienced an eightfold gain, something that made it stand out as the world’s most valuable automaker. The game-changing opportunity helped the company, enabling it to increase investor interest within the more expansive electric-vehicle space significantly.
It is intriguing to note that the market leader has been going through a rough patch since the start of this year. The company has come a long way, with its Model S becoming its breakthrough sedan. It was back in 2012 that it started delivering the products.
The company’s newer and cheaper 3 and Y brought a significant shift. They beat the older Model S and X sales.