Last Updated on February 10, 2021
3. Other Reasons For Tesla Selling Insurance.
Tesla knows that other insurance companies charge very high prices for their cars, especially when they come with auto-drive, and repairing an electric car is very, very expensive! Sometimes the repair may be higher than the price of a new one! And insurance companies don’t like this. Like I said previously, Elon Musk is a visionary, and when he does something he tries to solve short term problems and, at the same time, how it fits on his long term company’s growth strategy. Having insurance taken care of, will open new doors for self-driving vehicles and eventually for his project to send people to Mars with SpaceX. All in all, remember that Elon Musk is a businessman, and just like he first started selling luxury vehicles to finance infrastructures to build cheaper models (Tesla Model 3), selling insurance as a real purpose other than just being insurance.
