Image: Lacy O’ Toole | CNBC
Tesla is a “minor miracle” in the American auto industry, says Charlie Munger. He is surprised that the company has achieved such success, recognizing that Tesla and Elon Musk have made a real contribution to the development of our civilization.
Berkshire Hathaway Vice Chairman Charlie Munger praised Elon Musk and Tesla. He called the company an amazing achievement in the American auto industry and said he was surprised by it. Munger noted that Tesla and Musk have made a real contribution to the development of our civilization, making positive things that no one has been able to do before.
“I was certainly surprised that Tesla did as well as it did,” Munger said in an interview with CNBC's Becky Quick that aired Tuesday on “Squawk Box.” “I do not equate Tesla with Bitcoin. Tesla has made some real contributions to this civilization. Elon Musk has done some good things that others couldn't do,” he said.
Munger emphasized that such a successful new company in the automotive industry has not been seen for a long time while saying that what Tesla did is a “minor miracle.”
“We haven't had a successful new auto company in a long, long time. What Tesla has done in the car business is a minor miracle,” he said.
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