General Motors Underestimated Tesla in 2009, Now Valued at $830 Billion

In 2009, General Motors dismissed Tesla as merely “a bunch of engineers playing with laptop batteries.” These comments were made by GM during a Q&A session and were recently recalled by Nikola CEO Steve Girsky, who was serving on GM’s board at the time. However, it is clear now that GM vastly underestimated Tesla’s potential.

Fast forward to the present day and Tesla has become one of the most valuable companies in the world, with a market capitalization of $830 billion. The company has revolutionized the electric vehicle (EV) industry and has set the benchmark for sustainable transport.

This demonstrates the importance of recognizing innovation and not underestimating the potential of disruptive technologies. Tesla’s success has further solidified the growing popularity and demand for EVs in today’s market.

Despite initial skepticism from legacy automakers, Tesla has proven that electric vehicles are not a passing trend but rather the future of transportation. The company’s dedication to advancing battery technology, range capabilities, and autonomous driving has propelled it to the forefront of the automotive industry.

It is crucial for businesses to continuously adapt and embrace new technologies to stay relevant in the rapidly evolving market. Ignoring or belittling innovative companies like Tesla can have long-term consequences for industry incumbents.

General Motors’ dismissive attitude towards Tesla in 2009 serves as a reminder of the pace of technological advancements and the need to stay ahead of the curve. Instead of viewing Tesla as a threat, established automakers should aim to collaborate or develop their own innovative solutions to meet the growing consumer demand for sustainable transportation.

– Original article by Business Insider, “General Motors viewed Tesla in 2009 as a ‘bunch of engineers playing with laptop batteries.'”
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