Former Tesla board member: Hard to argue with Tesla's valuation

Group 1: Tesla's Performance and Market Position - Tesla achieved record deliveries in Q3, with nearly 500,000 vehicles sold, but year-to-date deliveries are down 6% [1] - The company generated $26 billion in revenue for Q3 and is on track for approximately $100 billion in total revenue for the year, but is facing a second year of flat growth [9] - European sales for Tesla have declined by 30%, while overall European EV sales have increased by 30%, indicating rising competition [10] Group 2: Shareholder Concerns and Executive Compensation - A group of Tesla shareholders is urging the board to reject a plan to grant CEO Elon Musk $1 trillion over the next decade, citing concerns over the board's focus on retaining Musk at the expense of company goals [3] - The board has stated that Musk's compensation will be tied to performance metrics, which include increasing the company's market cap to $8.5 trillion and selling 50,000 Optimus robots [6] Group 3: Competition and Future Challenges - Tesla is facing significant competition from companies like BYD, which has surpassed Tesla in EV sales, offering vehicles at much lower price points [20] - The company needs to introduce a low-cost vehicle in the €30,000 range to remain competitive, especially against aggressive Chinese competitors expanding into Europe [19][21] - The future of Tesla's robo-taxi business is uncertain, with competitors like Whimo gaining regulatory approvals and expanding rapidly [14][33] Group 4: Technology and Innovation - Tesla's ability to maintain its valuation depends on proving itself as a technology company, not just an auto manufacturer, by delivering on promises related to full self-driving technology and new product launches [29] - Whimo has achieved full regulatory approval in six cities and is expanding, while Tesla struggles with regulatory hurdles and product rollout [30][33]