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James Anderson at Baillie Gifford and their top-performing FTSE 100-listed £11.8bn trust said Tesla was the only listed company at the vanguard of the new energy revolution
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@ProlTor https://citywire.co.uk/investment-trust-insider/news/james-anderson-tesla-leads-biggest-revolution-of-my-career/a1369366
Hat Tip
@ProlTor https://citywire.co.uk/investment-trust-insider/news/james-anderson-tesla-leads-biggest-revolution-of-my-career/a1369366
“The first quarter of 2020 saw one of the most important changes that we will ever see in our investment lifetimes” said Anderson
“I think by the end of March we got to a position where the most likely outcome for the world is the end of carbon”
“I think by the end of March we got to a position where the most likely outcome for the world is the end of carbon”
“We’ve probably only had three energy revolutions in the history of mankind. They are absolutely central to not just our economic development but they also alter the very nature of our society”
Tesla the electric car maker is now its top stock at 11.1% of the Trust’s portfolio
Tesla the electric car maker is now its top stock at 11.1% of the Trust’s portfolio
James Anderson cited data showing 52% of Germany’s electricity came from renewables in the first quarter of 2020
And he added that Tesla’s Model 3 becoming the best-selling car in California over the same period was indicative of the same shift
And he added that Tesla’s Model 3 becoming the best-selling car in California over the same period was indicative of the same shift
Anderson said he and his colleague Tom Slater were looking at a large number of companies at the vanguard of trying to develop renewable energy and battery storage technologies.
“I know of none outside Tesla itself that exist in public markets” he said
“I know of none outside Tesla itself that exist in public markets” he said
Anderson said there was increasingly a “Tesla mafia of people who once worked there”
“There is, for instance, one northern European company we’re talking to at the moment that has very clear plans to try to be the world’s biggest battery supplier”
“There is, for instance, one northern European company we’re talking to at the moment that has very clear plans to try to be the world’s biggest battery supplier”
His comments suggested Scottish Mortgage may be watching the Northvolt battery startup which was set up by former Tesla executives
The Swedish company is backed by the likes of Siemens and set to commence operations at its first large-scale factory in northern Sweden next year
The Swedish company is backed by the likes of Siemens and set to commence operations at its first large-scale factory in northern Sweden next year
Northvolt is also due to begin construction on a joint venture with Volkswagen
“This is the first time we’ve moved away from saying there is nothing else we can invest in apart from Tesla”
“This is the first time we’ve moved away from saying there is nothing else we can invest in apart from Tesla”
That marks a shift from even a month ago, when co-manager Tom Slater expressed frustration in the results about the lack of opportunities beyond Tesla
“We wish we could find other big companies that were making such progress in the move to a sustainable energy economy” he said
“We wish we could find other big companies that were making such progress in the move to a sustainable energy economy” he said
“As for Tesla itself, I think it’s only just getting started”
