On November 11, according to foreign media reports, according to two Form 4s documents submitted by Tesla CEO Musk on November 8, he has exercised more than 2.15 million Tesla shares at a price of $6.24. Pulled stock options, and sold 934,000 shares after exercise, cashing out a total of 1.55 billion US dollars. The stock options, acquired by Musk in 2012, were due to expire next August.
Tesla’s market value plummeted by 1.3 trillion yuan
It is worth mentioning that before the news of Musk’s stock sale was announced, on November 8, the electric vehicle giant Tesla’s stock price had plummeted by nearly 5%, and its market value had evaporated by 59.3 billion US dollars (about 378.9 billion yuan). Yuan)
On November 9, the electric car giant Tesla continued its downward trend on Monday, plummeting 12% again, the largest decline since March, and the daily low of the stock price approached the psychological mark of $1,000, a two-week low, and Tesla’s market value overnight. Evaporated about 140 billion US dollars (about 894.8 billion yuan). In total, the company’s market value fell by US$199.3 billion (about 1.3 trillion yuan) in the two days.
The previous Tesla CEO Elon Musk’s “high-profile reduction” on Twitter may be the main reason for Tesla’s plunge. Last week, Musk launched a poll on Twitter asking his 62.5 million followers to decide whether he should sell 10% of Tesla stock. The voting results showed that the proportion of support for Musk to sell stock reached 57.9%.
Moreover, Musk’s younger brother Kimbal Musk also exercised his Tesla stock options last Friday, buying 25,000 Tesla shares at a price of $74.17 per share, and then immediately sold them in batches. The selling price ranged from $1,223/share to $1,236/share, cashing out about $108.8 million.
This time, Tesla’s stock plunge has been forewarned, and Musk’s sale of Tesla’s stock has long been expected.
As early as September this year, Musk had already planned to sell Tesla shares. It is reported that when his stock options in Tesla expire, his marginal tax rate will exceed 50%. If he does not sell shares If so, Musk would face up to $15 billion in total taxes.
Why Tesla is worth a trillion dollars
Musk faces such a high tax bill that Tesla is now worth more than a trillion dollars.
On October 25 of this year, Tesla’s share price exceeded 10 million US dollars, and the market value reached a key node of “trillion US dollars”. It ranks first among all automakers, and its market value is higher than the combined market value of Toyota, Volkswagen, General Motors, and Ford, the auto giants that dominated the century. So, why is Tesla’s market value so high?
The reason is that Tesla’s own technical content and research and development capabilities are very powerful. Moreover, the technologies developed by Tesla include various related industries, and the most outstanding thing about Tesla is its technological R&D and innovation capabilities.
Tesla is the first self-developed chip car company. In March 2019, Tesla launched its self-developed FSD chip, which successfully replaced the NVIDIA Drive PX2 chipset (2 Parker SoC chips plus 1 The previous generation of Autopilot system hardware with Pascal GPU) realized software-defined cars, and the AI computing performance was improved by 21 times. Since then, Tesla has been able to achieve autonomous iteration in the chip field.
Tesla has always been an industry leader in power battery energy density, battery management, and motor performance. Tesla plans to produce its own batteries by acquiring Hibar Systems, a battery manufacturing and engineering company located in Canada, to build an independent battery. to pave the way for battery production capacity;
This leads to other electric vehicle manufacturers, the cost of producing a basic battery unit that stores 1 kWh of electricity is about 146 US dollars (about 950 yuan), while the cost of Tesla is only 116 US dollars (about 755 yuan) , far ahead of other electric car companies, Tesla is not satisfied with this, Tesla also plans to reduce the cost of batteries to 100 US dollars per kilowatt-hour.
Tesla has factories all over the world, and Tesla’s super factory has a huge team of intelligent robots. The fully automatic intelligent robots shuttle between workstations, carry heavy goods, and can work continuously for 19 hours. No human intervention is required.
Moreover, the Gigafactory takes into account possible changes in battery technology and structure in the coming decades, so the product line design is very flexible and can be adjusted at any time as the technology changes. Gigafactories can produce battery cells and battery Modules at the same time, thereby reducing costs and ensuring a stable supply.
That’s why Tesla’s cost per car is lower than other automakers.
There are various signs that Tesla is planning for the future, and every step Tesla takes is planning for the future. This has led to Tesla’s unfavorable development in the early stage and has been losing money. When the preparation of each link is completed, Tesla’s development will not stop. Today’s Tesla’s market value has exceeded one trillion yuan, and it has its presence in various fields around the world. In this way, Tesla not only Just a car company, more like a software services and energy company.
The history of Tesla’s development has confirmed that whether a company can develop for a long time depends on long-term and broad development goals. If a company is short-sighted and only focuses on immediate interest, it will be self-defeating.
The Links: IRKV300-04 PM10CSJ060