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The Street
The Street
Business
Ian Krietzberg

Elon Musk's Latest Tesla Announcement Could Shake Up the Entire EV Industry

It's easy to forget that Elon Musk, beyond Tweeting out storms of chaotic messages at all hours of the day, is the CEO of Tesla, one of the most prominent EV makers in the industry. 

In the wake of the May 25 announcement that Ford customers would gain access to Tesla's supercharging network, the tech billionaire seems keen to offer more assistance to his peers in the auto industry. 

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"Tesla aspires to be as helpful as possible to other car companies," Musk Tweeted June 5. Noting that the car company made its patents "freely available" in 2014, Musk also mentioned that the EV giant is bringing other car makers into its network of superchargers. 

"Also happy to license Autopilot/FSD or other Tesla technology," Musk added. 

The move to potentially license Tesla's technology came in response to an article quoting GM CEO Mary Barra saying that she doesn't see profitable electric vehicles in the $30,000 to $40,000 range coming for at least a decade. 

Speaking at a Sanford Bernstein conference, Barra acknowledged that Tesla leads the current EV market with better technology, profitability and scalability. 

Barra said that the cost of EV batteries is still too high to sell a profitable vehicle at that affordable range, but thinks that cost will come down in the next decade. 

Tesla sells its Model 3 for $37,000 before incentives. 

Tesla resumed its beta rollout of FSD to new testers at the end of May. 

Forget Tesla – We’re all in on this EV stock

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