Tesla Needs Period of ‘Peace and Execution,’ Major Shareholder Says
(Bloomberg) -- One of Tesla Inc.’s biggest investors has called for the Elon Musk-led carmaker to keep its head down and focus on performance.
“We are very supportive, but we would like peace and execution at this stage,” James Anderson, a partner and portfolio manager at Baillie Gifford & Co., Tesla’s fourth-largest shareholder, said Wednesday in a Bloomberg Television interview. “It would be good to just concentrate on the core task.”
Anderson didn’t comment on Musk specifically or elaborate on Tesla’s issues while speaking from Allen & Co.’s Sun Valley conference. The electric-car maker’s chief executive officer has made headlines by attacking journalists and Wall Street analysts in recent months as the company has struggled to ramp up production of its Model 3 sedan and stem losses.
Baillie Gifford owned 12.8 million shares as of the end of March, a stake that’s worth more than $4 billion at current prices. Only Musk, T. Rowe Price and Fidelity owner FMR LLC have a bigger position, according to data compiled by Bloomberg.
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