Tesla Inc., a relative newcomer to Toyota Motor Corp., has now doubled the market value Toyota has. That certainly qualifies for the lead, but when it comes to real cooking, Toyota is the only one with the right chef and cooking tools to get that job done.
In a bizarre culinary analogy, Toyota President Akio Toyoda commented on Tesla’s lead in the market, fueled by investor interest in all-electric vehicles. The comments made during Friday’s online video call related to Toyota’s latest profit figures, according to a Bloomberg report.
Toyoda admits Tesla leads in terms of stock value (Tesla is currently worth $ 400 billion, while Toyota̵7;s market value is at over $ 200 billion) and even admits that it can learn from its company Elon Musk is in certain departments. That said, Tesla only sells “recipes”, not actual foods.
Toyoda compared 367,500 cars sold by Tesla last year to 10.74 million units sold by Toyota in the same timeframe. Investors’ interest caused Tesla’s stock to skyrocket, Toyoda explained, but when it came to customers, they could only get a full menu with Toyota, Toyoda explained.
“We are losing when it comes to stock prices,” he say. “But when it comes to products, we have a full menu that will be chosen by the customer.”
“Tesla says their recipe will be the standard in the future, but what Toyota has is a real kitchen and a real chef,” Toyoda continued. “They aren’t really making anything real, people are just buying recipes. We have a kitchen and a chef, and we make real food. ”
He didn’t make it clear what he meant exactly that Tesla sold recipes rather than actual cars (groceries, food), but he did understand the fact that Toyota was superior at delivering. Many options for fussy customers. A little something for every taste, if you want – just not a lot about purely electric variety, it’s Tesla’s only option.
As for what Toyota can learn from the much younger automaker and new rival, it involves generating profits from electric vehicles, renewable energy products and software updates.