In Musk's View, Bankruptcy Is Not An Issue If Rivals Build Better Cars

One of the members of the board of directors of Tesla stated that he wouldn't mind if Tesla went bankrupt as long as a rival built a better car than Tesla, as Musk did mention in the interview.

In an interview with Trade Algo last week, Hiromichi Mizuno, a chief investment officer of Japan Government Pension Investment Fund, said he disagrees whenever Elon says, 'I don't mind Tesla going bankrupt if somebody else comes up with a better car'. Mizuno spoke at the World Government Summit on Tuesday and said how his fund is looking forward to the days to come.

According to Mizuno, who was appointed to Tesla's board at the end of April, "that's his philosophy and Tesla's philosophy.".

Trade Algo's request for comment was not immediately responded to by Tesla.

A number of times during the almost 20 years of the automaker's history, Musk has said that the company may have gone bankrupt. During the run-up to the production of its Model 3 car, between mid-2017 and mid-2019, Musk said the company was “about a month” away from bankruptcy.

The CEO of Tesla said that his biggest concern was keeping the company out of bankruptcy as a result of production disruptions in China. During his interview with a Tesla owners club, Musk stated that automakers generally "despised to go bankrupt."

With the purchase of Twitter last year, Musk has pursued drastic strategic changes — from mass layoffs to aggressive efforts to boost profitability — in addition to his many other ventures, including SpaceX. In light of increased competition, macroeconomic uncertainty, and regulatory scrutiny, investors are unsure whether Musk is getting distracted at this time.

He joked that he couldn't tell if Musk was human or alien in light of Musk's increasing workload.

He said that Musk exhibited incredible tenacity and showed incredible tenacity in his work, yet Mizuno backed Musk.

Despite Musk’s distractions, he still counts on Tesla to "keep blowing our minds with what they do with technology." He's not the only Tesla backer who's behind the company's CEO. Despite Musk's distractions, David Wallerstein, Tencent's chief "eXploration" officer, said last month that Tesla is still blowing his mind with what it does with technology. Since 2017, Alibaba has owned 5% of Tesla.

Over 80% of industry sales are still from non-fully electric cars, Mizuno said, regardless of Tesla's progress in reaching mass production and sales - the company delivered 1.31 million vehicles last year.