Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk said on Tuesday that he is planning to do something “fairly controversial” in relation to company’s patents, according to USA Today. However, the decision will have to be “carefully explained,” said Musk, and added that he is surprised that other electric car manufacturers are not making any big commitments in the electric car segment.
Other makers not serious
Musk made the comment at the recent shareholder’s meeting, which set investors thinking about whether Tesla Motors Inc (NASDAQ:TSLA) is considering releasing some kind of patented technology to enhance electric car development.
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Elon Musk believes that no other car manufacturer has taken serious stepa in the electric car arena and most of them are doing what is “minimally required” under the rules for non-polluting cars, and are bailing out of projects where there are no such obligations.
“I was hoping other companies would engage in more serious electric-car programs,” he says.
The Tesla Motors Inc (NASDAQ:TSLA) CEO also stated that he appreciates efforts to make electric cars better, such as like Nissan leaf, which has a longer driving range. Musk also applauds efforts to make long-range mass-market electric cars even before Tesla launches a moderately priced car around $35,000 in a few years.
Tesla stock too pricey
According to Musk, Tesla Motors Inc (NASDAQ:TSLA) sold 22,500 cars last year, and is aiming to sell 35,000 cars this year as Model S has an edge over other electric cars due to its longer range. Furthermore, the network of superchargers is increasing, giving Model S owner’s the freedom to drive across state lines without worrying about charging or waiting for hours to get the battery refilled.
Tesla Motors Inc (NASDAQ:TSLA) stock is still trading 500% higher since the end of 2012 and shares are in great demand. The electronic car manufacturer has revolutionized the electric car market with its innovative ideas and features, and according to consumer reports they are making amazingly goodf cars. Despite this, the stock at these levels “is probably even a sell,” says a report from Investor Place. The stock has a forward price-to-earnings multiple of 65, which is more than four times that of the S&P 500. Also, its price-to-sales ratio (P/S) of over 12 is more than four times Apple Inc.’s P/S ratio of about 3.