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History was made when Tesla's market value shot past General Motors a couple weeks back. What does General Motors have to say?
Just two weeks ago, Tesla's market value zipped past General Motors, making Tesla the most valuable American automaker.
Initially, General Motors didn't comment on the situation, but now, via Detroit News, we've got some statements on the matter from Mark Reuss, General Motors' executive vice president.
According to Reuss, the balance sheets and bottom lines don't seem to matter out in Silicon Valley where market cap is driven largely by future expectations. However, at GM, those figures, as well as delivery numbers, are key. Quoting Reuss:
“What we look at here is delivering. I’m a big, big proponent of that. And doing or saying or explaining things that may or may not come true, we don’t have the luxury of doing that in General Motors. I think other people may have that luxury. We do not.”
“When we come out and talk about what we’re going to do, we’re going to do it. And that is the single-mindedly focused belief and culture in the company. And so anything that doesn’t fit into that category, we just don’t have the luxury of doing.”
“We don’t manage our company on day-to-day stock. We’re just going to stay laser-focused... I’m confident that over time, we’re going to create value for our shareholders.”
Reuss never once mentioned Tesla by name during the interview.
Reuss even commented on autonomous vehicles, stating:
“We’re going to be the best at semi-autonomous, or Super Cruise-like, execution. We will be the only true hands-free driving experience safely in the market here very shortly.”
The Detroit News reached out to Tesla for comment. Tesla declined requests.
Source: Detroit News