Elon Musk reiterates his belief that Tesla will 'be the most valuable company on earth' amid record quarter for the EV maker
and Saudi Aramco combined, or about $4 trillion. Tesla currently has a market valuation of $502 billion.
Musk also teased that new products are under development, which presumably could be a new car model. Wall Street analysts expect a lower-cost EV that they have dubbed the"Model 2." Other areas of growth for the company include Tesla insurance, which is currently at an annual premium run rate of $300 million."We're growing 20% a quarter so it's growing faster than the growth in our vehicle business," CFO Zachary Kirkhorn said.
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