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Don't bet against Tesla, says former president. But here's why he's not a shareholder
Oct 21, 2021 | CNBC
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The former president of electric vehicle giant Tesla said Thursday he would not bet against the company, noting that it's emerging as a "formidable competitor" to automakers around the world after the company beat third-quarter earnings expectations.

Currently not a Tesla investor, Jon McNeill told CNBC's "Squawk Box" the stock is "priced to perfection" right now, but he said he still drives Teslas. McNeill, also a former Lyft COO, highlighted strong gross margins at the company.

"The gross margins are approaching 30%, just to put that in perspective, that is three times the gross margin level at GM, and about six times the gross margin level of Ford," McNeill said.

Despite supply chain issues, Tesla saw sales rise to record breaking numbers at the company, even as other automakers struggle to keep up with their own demand.

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