Chamath Palihapitiya, the Sri Lanka-born chairman of Virgin Galactic and founder of Social Capital.He says Tesla stock is now going to represent the totality around decarbonization and sustainability. Social Capital Chief Executive Chamath Palihapitiya told CNBC on Thursday that Tesla's growth is much more than about electric cars: its renewable energy components could make Elon Musk’s company worth trillions. As of Thursday morning, Tesla’s market cap is US$295.3 billion. Tesla’s energy businesses so far have taken a back seat when compared with its key autos unit, but Musk has been pushing toward growth. In its second-quarter earnings report, Tesla said its energy storage business Megapack generated a profit for the first time.

Source: The Standard July 23, 2020 15:23 UTC