The executive director of the PSA group (Peugeot-Citroën, Opel), Carlos Tavares, has stated in a recent corporate event that he believes Tesla investors “are taking a significant risk.” According to the famous manager, Tesla shares are currently overvalued, which translates into “a huge risk” for investors.
The Portuguese states that the rise in the company’s share price is due to “the idea that Tesla could conquer the market by its focus on the electric car and possibly by some innovative vehicle distribution system.” With 370,000 units sold in 2019, Tesla has a stock value of $ 120,000 million, while PSA remains at 14,500 million despite delivering 3.5 million vehicles in the same period.
Also, we cannot lose sight of the fact that this year PSA will be merged with FCA (FIAT-Chrysler), which will make up the fourth-largest automobile group in the world with a total of 8.7 million units manufactured annually, leaving only behind Giants like Toyota, the Volkswagen Group, and the battered Renault-Nissan-Mitsubishi Alliance.